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Number of Workers Output Fixed Cost Variable Cost 0 0 $30 $0 1 100 $30 $15 2 180 $30 $30 3 240 $30 $45 4
Number of Workers | Output | Fixed Cost | Variable Cost |
0 | 0 | $30 | $0 |
1 | 100 | $30 | $15 |
2 | 180 | $30 | $30 |
3 | 240 | $30 | $45 |
4 | 280 | $30 | $60 |
5 | 300 | $30 | $75 |
Refer to Table 2. What is the marginal product of the third worker?
A: 80 units
b: 60 units
c: 40 units
d: 20 units
Refer to Table 2. The average total cost of producing 240 units is
a: $0.13
b:$0.19
c:$0.32
d:$0.80
Refer to Table 2. The marginal products of hiring additional workers are | |
a: increasing at an increasing rate b: increasing at a decreasing rate c: decreasing d: constant |
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