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Suppose Lion Sandwich Shop rents a building for $40 per day, and they can hire workers for $120 per day. The short run labor and
Suppose Lion Sandwich Shop rents a building for $40 per day, and they can hire workers for $120 per day. The short run labor and output (quantity of sandwiches) information is listed below. Fill in the columns for total cost and marginal cost. (Note: You may need to make columns for fixed cost (FC) and variable cost (VC) on a piece of scrap paper, which will make it easier to find total cost (TC).) Do not enter any dollar signs, and if necessary, round to two decimal places. Lion Sandwich Shop Total Cost and Marginal Cost Labor (L) Output (Q) Total Cost (TC) Marginal Cost (MC) 0 0 -- 1 10 2 30 3 60 4 100 5 145 6 183 7 210
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