Tom leases a farmer's field for $100 a day and grows pineapples. He pays students $70 a day to pick pineapples and he leases capital at $20 a day. The table gives the daily output. What is Tom's total cost and average total cost if he produces 123 pineapples a day? When Tom produces 123 pineapples a day, total cost is a day. Output (pineapples per day) Labor (students) 1 25 55 75 4 93 109 123 135
Tom leases a farmer's field for $100 a day and grows pineapples. He pays students $70 a day to pick pineapples and he leases capital at $20 a day. The table gives the daily output. What is Tom's total cost and average total cost if he produces 123 pineapples a day? When Tom produces 123 pineapples a day, total cost is a day. Output (pineapples per day) Labor (students) 1 25 55 75 4 93 109 123 135
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 3.7P
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