The following table shows the daily relationship between the number of workers and output (Q) for a small factory in the short run, with capital held constant. Each worker costs $200 per day, and the firm has fixed costs of $50 per day Calculate total cost (TC), marginal cost (MC), and average total cost (ATC). (Round your answers to two decimal places.) TC MC ATC Workers 0 Q 0 1 50 2 110 3 176 4 229 5 252
The following table shows the daily relationship between the number of workers and output (Q) for a small factory in the short run, with capital held constant. Each worker costs $200 per day, and the firm has fixed costs of $50 per day Calculate total cost (TC), marginal cost (MC), and average total cost (ATC). (Round your answers to two decimal places.) TC MC ATC Workers 0 Q 0 1 50 2 110 3 176 4 229 5 252
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 4SQ
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