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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
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
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