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Table 13-15 Marginal Variable Fixed Labor Output Product of Total Cost Average Average Average Marginal Cost Cost Variable Cost Fixed Cost Total Cost Cost Labor
Table 13-15 Marginal Variable Fixed Labor Output Product of Total Cost Average Average Average Marginal Cost Cost Variable Cost Fixed Cost Total Cost Cost Labor 0 SO $5 1 100 100 $5 2 250 $10 $5 3 350 $15 $5 4 50 $20 $5 5 25 $25 $5 F 430 $30 $5 1. Complete the chart above. (36 points) 2. What is the total output of five workers? (1 point) 3. What is the marginal product of the sixth worker? (1 point) 4. What is the shape of the marginal-cost curve? (1 point) 5. What is the shape of this firm's total-cost curve? (1 point) 6. What is the average total cost of producing 425 units of output? (1 point) 7. What is the average variable cost of producing 400 units of output? (1 point) 3. What is the average fixed cost of producing 430 units of output? (1 point) 9. What is the shape of the average-fixed-cost curve? (1 point) 10. What is the shape of the average-variable-cost curve? (1 point) 11. What is the shape of the average-total-cost curve? (1 point)
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