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Use the following information to work Problems: A to D Jose's body board factory pays $60 a day for equipment and $200 a day to
- Use the following information to work
Problems: A to D
Jose's body board factory pays $60 a day for equipment and $200
a day to each student it hires. The table sets out Jose's total product
schedule.
Labor Workers (per day) | Total Product (body boards (per day) |
0 | 0 |
1 | 20 |
2 | 44 |
3 | 60 |
4 | 72 |
- Construct Jose's' s total variable cost and total cost schedules.
What does the difference between total cost and total variable
cost at each output equal?
- Construct the average fixed cost, average variable cost, and average total cost schedules and the marginal cost schedule.
- At what output is Jose's average total cost at a minimum? At what output
is Jos's average variable cost at a minimum?
- Construct the average fixed cost, average variable cost, and average total cost schedules and the marginal cost schedule.
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