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questions. Quantity Average Fixed Average Variable Average Total Marginal Cost Cost Cost Cost 1 $ 40.00 $ 20.00 $ 60.00 $ 20.00 $ 20.00 19.00
questions. Quantity Average Fixed Average Variable Average Total Marginal Cost Cost Cost Cost 1 $ 40.00 $ 20.00 $ 60.00 $ 20.00 $ 20.00 19.00 $ 39.00 $ 18.00 W N $ 13.33 $ 23.33 $ 36.67 $ 32.00 $ 10.00 $ 30.00 $ 40.00 $ 50.00 $ 8.00 $ 38.00 $ 46.00 $ 70.00 6 $ 6.67 $ 46.67 $ 53.33 $ 90.00 $ 5.71 $ 54.29 $ 60.00 $ 100.00 a. What is the firm's total fixed cost? b. Looking at the average total cost data, at what level of output does the diminishing returns effect begin to dominate the spreading effect? Explain. c. Suppose the firm's only variable input is labor. Using the data in the table, respond to the following. i. At what level of output would the firm's average product of labor (APL) be maximized? Explain how you know. ii. What level of output corresponds to where the firm's productionfunction begins to rise at a diminishing rate
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