he only variable input a janitorial service firm uses to clean offices is orkers who are paid a wage, w, of $12 an hour. Each worker can clean four Fices in an hour. Use math to determine the variable cost, the average riable cost, and the marginal cost of cleaning one more office. he average variable cost, and marginal cost of cleaning one more office is (Enter a numeric response using a real number rounded to two cimal places.) se the line drawing tool to graph the variable cost (VC), the average riable cost (AVC), and the marginal cost (MC) curves. Properly label each the three lines. arefully follow the instructions above, and only draw the required objects. ote: The graph to the right measures values using two different units. ariable cost is measured in dollars, while marginal cost and average riable cost are measured in dollars per unit. Although these relationships e not typically graphed together, it was done to illustrate the relationship etween variable cost and marginal cost (hint: compare marginal cost to the ope of the variable cost curve). Cost, Cost per unit, $ 26- 24- 22- 20 18- 16- 14- 12- 10- 8- 6- 4- 2+ 04 0 2 4 Quantity a Offices cleaned 8
he only variable input a janitorial service firm uses to clean offices is orkers who are paid a wage, w, of $12 an hour. Each worker can clean four Fices in an hour. Use math to determine the variable cost, the average riable cost, and the marginal cost of cleaning one more office. he average variable cost, and marginal cost of cleaning one more office is (Enter a numeric response using a real number rounded to two cimal places.) se the line drawing tool to graph the variable cost (VC), the average riable cost (AVC), and the marginal cost (MC) curves. Properly label each the three lines. arefully follow the instructions above, and only draw the required objects. ote: The graph to the right measures values using two different units. ariable cost is measured in dollars, while marginal cost and average riable cost are measured in dollars per unit. Although these relationships e not typically graphed together, it was done to illustrate the relationship etween variable cost and marginal cost (hint: compare marginal cost to the ope of the variable cost curve). Cost, Cost per unit, $ 26- 24- 22- 20 18- 16- 14- 12- 10- 8- 6- 4- 2+ 04 0 2 4 Quantity a Offices cleaned 8
Chapter9: Production Functions
Section: Chapter Questions
Problem 9.1P
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CS 17
Subject - Economics
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