Quantity of Workers Apples Picked Variable Costts Average Variable Cost Fixed Costs Cost per Apple Marginal Cost (ATC) Total Costs (TC) Average Fixed Cost (AFC) by workers (FC) (VC) (MC) (AVC) 10 100 10 210 10 10 290 10 15 4 340 10 20 5. 360 10 25

Quantity of Workers Apples Picked Variable Costts Average Variable Cost Fixed Costs Cost per Apple Marginal Cost (ATC) Total Costs (TC) Average Fixed Cost (AFC) by workers (FC) (VC) (MC) (AVC) 10 100 10 210 10 10 290 10 15 4 340 10 20 5. 360 10 25

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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Question

Suppose that you own an apple orchard and the following chart represents the quantity of apples that can be picked from your orchard per hour with a given quantity of capital equipment, such as baskets and ladders.

a. Complete the table above by calculating the average total cost, marginal cost, average variable cost, and the average fixed cost.

Quantity of
Workers
Apples Picked
Variable Costts
Average
Variable Cost
Fixed Costs
Cost per Apple Marginal Cost
(ATC)
Total Costs (TC)
Average Fixed
Cost (AFC)
by workers
(FC)
(VC)
(MC)
(AVC)
10
100
10
210
10
10
290
10
15
4
340
10
20
5.
360
10
25

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