Assuming that the labour is the only variable factor of production for banana cakes, and each...
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Assuming that the labour is the only variable factor of production for banana cakes, and each worker making banana cakes gets paid $21.00 per day. Refer to the table below and determine which statement is correct? Number of workers 3 60 Total banana cakes produced daily 0 0 1 10 2 20 4 80 5 97 Select one: O a. It is certain that the Marginal Cost Curve is falling when the 97th banana cake is produced daily. O b. It is uncertain that the Total Cost is rising when the 97th banana cake is produced daily. O c. It is certain that the Total Fixed Cost is rising when the 97th banana cake is produced daily. O d. It is certain that the Average Total Cost is rising when the 97th banana cake is produced daily. The total cost of making 100 hamburgers is $1000. The marginal cost of 101st hamburger is only $6. Which of the following statements must be correct? Select one: O a. The marginal cost of the 100th hamburger is 10. O b. The average variable cost of producing 101 hamburgers is $ 9.9. O c. The average total cost of producing 101 hamburgers is $9.96. Od. The average total cost is constant at $10. Assuming that the labour is the only variable factor of production for banana cakes, and each worker making banana cakes gets paid $21.00 per day. Refer to the table below and determine which statement is correct? Number of workers 3 60 Total banana cakes produced daily 0 0 1 10 2 20 4 80 5 97 Select one: O a. It is certain that the Marginal Cost Curve is falling when the 97th banana cake is produced daily. O b. It is uncertain that the Total Cost is rising when the 97th banana cake is produced daily. O c. It is certain that the Total Fixed Cost is rising when the 97th banana cake is produced daily. O d. It is certain that the Average Total Cost is rising when the 97th banana cake is produced daily. The total cost of making 100 hamburgers is $1000. The marginal cost of 101st hamburger is only $6. Which of the following statements must be correct? Select one: O a. The marginal cost of the 100th hamburger is 10. O b. The average variable cost of producing 101 hamburgers is $ 9.9. O c. The average total cost of producing 101 hamburgers is $9.96. Od. The average total cost is constant at $10.
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