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Thank you for the practice help... just need to understand better. Nafisa owns a small firm that produces balls for official use in University of

Thank you for the practice help... just need to understand better.

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Nafisa owns a small firm that produces balls for official use in University of Michigan football games. Her fixed cost is $1,000 per month. Nafisa can hire workers for $2,000 per worker per month. Her monthly production function is as given in the accompanying table. Quantity of Labor (workers) Quantity of Balls 0 0 500 1,000 1,400 1,700 2,000 If this firm decided to hire 5 workers, the average variable cost at that level of output would be. and the average fixed cost at that level of output would be_ O $5.00; $0.50 O $5.00; $1.00 O $5.50; $0.50 O $2000; $400 O $10,000; $1,000

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