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1.The following table shows the average productivity of a team of painters hired to paint a large shopping center. Number of Painters Average Productivity 1

1.The following table shows the average productivity of a team of painters hired to paint a large shopping center.

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Number of Painters Average Productivity 1 4 2 6 3 7 4 7.5 7.75 6 9Number of Dishwashers Marginal Product 1 4 N 5 3 6 4 7 5 6.8 6 6.7Price MC2 MC1 Quantity (units)10 9 8 Long Run Average Total Costs 6 A Cost D A B W C N 1 2 3 4 5 6 7 Output 8 9 10MC $50 ATC $40 AVC -- - Price $30 $20 $10 - 5 10 15 20 25 QuantityQuantity Marginal Cost Average Total Cost Average Variable Cost 10 $12 $32 $24 15 $14 $30 $20 20 $16 $28 $16 25 $26 $26 $20 30 $30 $28 $24 35 $40 $32 $30$40 MC $30 ATC AVC Price $20 B P $10 A 0 2 3 A 5 6 7 Quantity 8 9

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