Question 4Charlie Co. sells pastries and its production and cost table is given below. A workercosts $100 a day, the firm has fixed costs of $200.LMPMCTCАТС120250390412051406150155a. Complete the table aboveb. Compare the average total cost and the marginal cost and explain therelationshipc. Describe the methuds that can be used to determine where profit is maximized?IN

Marginal productivity of labor= change in total productivity / change in labor

Charlie Co. sells pastries and its production and cost table is given below. A worker costs $100 a day, the firm has fixed costs of $200. L MP MC TC АТС 1 20 50 3 90 4 120 140 6. 150 7 155 a. Complete the table above b. Compare the average total cost and the marginal cost and explain the relationship c. Describe the methuds that can be used to determine where profit is maximized?

Charlie Co. sells pastries and its production and cost table is given below. A worker costs $100 a day, the firm has fixed costs of $200. L MP MC TC АТС 1 20 50 3 90 4 120 140 6. 150 7 155 a. Complete the table above b. Compare the average total cost and the marginal cost and explain the relationship c. Describe the methuds that can be used to determine where profit is maximized?

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 9SQP

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