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The table below gives costs at Jan's Bike Shop. Unfortunately, Jan's record keeping has been spotty (again!) But it is good to know that each
The table below gives costs at Jan's Bike Shop. Unfortunately, Jan's record keeping has been spotty (again!) But it is good to know that each worker is paic $100 a day. Labor costs are the only variable costs of production. Complete the table based on the given information. (Rounding your answers up to three decimal places. Please do so to avoid mis-matching the answer keys. For instance, if your answer is 20, just put in 20; if you answer is 20.33333, put in 20.333; if you answer is 20.7777777, put in 20.778; If your asnwer is 20.75, just put in 20.75). (Hint: For Average Total Cost and Marginal Cost, what variable, or the difference of the variable, should be the denominator?) L 0 a u b t o 1' P ( u t Total xed costs Total variable cost Average Total Cost . :1 ( (dollars) (dollars) Total cost (dollars) (dollars) Margmal Cost (dollars) . '3 k c k rs e ) S) 0 200 ___ ___ : :l
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