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3 The daily production of a firm is provided in the table below. The firm produces output using capital and labor as denoted by K
3 The daily production of a firm is provided in the table below. The firm produces output using capital and labor as denoted by K and L, respectively. The company has assigned a rental rate of capital at $320 per unit per day, it must pay regardless of whether it 4 6 5 produces or not. It hires full-time workers as denoted by L. The firm pays each full-time worker $28 per hour and each worker works 8 hours per day. The company expects Q units of output with the K and L associated with the production row as given in the table. Calculate the values for the productivity and costs measures below. Round values to nearest hundredth. Then answer the questions 7 and complete the tasks assigned below. 684 9 on 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 LO482 12 16 20 24 28 32 36 40 44 48 52 56 60 64 68 72 76 80 K444444 st 4 st 4 4 4 4 4 4 4 444444 4 Q 0 4 15 30 52 78 107 140 176 214 253 293 333 372 410 447 481 512 541 566 586 AP of variable input MP of variable input TFC TVC TC AFC AVC ATC MC
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