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Name: Production and cost information for Johnson's Farms, producing Yellow Squash, using hourly labor with fixed quantities of land, machinery and other resources. TFC TVC
Name: Production and cost information for Johnson's Farms, producing Yellow Squash, using hourly labor with fixed quantities of land, machinery and other resources. TFC TVC TC AFC AVC ATC MC TR MR Profit === ===== ===== 100.0 Labor Units of Squash X Y or TPP 0 0 1 10 2 25 3 45 4 61 5 72 6 81 7 87 8 90 9 92 10 93 11 92 12 88 50.0 78.0 91.0 348.0 4.0 1) Use the information above to complete the table. Calculate all answers to two decimal places. 2) Fill in the following information: a. What is the price per unit of labor b. What is the price per unit of squash c. The maximum profit level of $ d. The optimum number of workers to use is will be achieved at an output of units of squash
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