Table with given information of output and cost

Assignment Help Macroeconomics
Reference no: EM1315443

Consider a firm that has just built a plant, which cost $20,000. Each worker costs $5.00 per hour. Based on this information, fill in the table below:

Number of worker Hours

Output

Marginal Product

Fixed cost

Variable cost

Total cost

Marginal cost

Average Variable cost

Average total cost

0

0

 

 

 

20,000

 

 

 

50

400

 

 

 

20,250

 

 

 

100

900

 

 

 

20,500

 

 

 

150

1300

 

 

 

20,750

 

 

 

200

1600

 

 

 

21,000

 

 

 

250

1800

 

 

 

21,250

 

 

 

300

1900

 

 

 

21,500

 

 

 

350

1950

 

 

 

21,750

 

 

 

Reference no: EM1315443

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