Question: Cost and Productivity Exercises Name: The following problems are designed to help with the relationship between the costs and productivity measures. Answer each question separately
Cost and Productivity Exercises Name: The following problems are designed to help with the relationship between the costs and productivity measures. Answer each question separately because it does not depend on the other answers. 1. If Riverside Pizza can serve 30 tables with 4 waiters and 36 tables with 5 waiters, the marginal product of the fifth waiter is ( ). 2. If Clean Lynchburg garbage collection company employs 3 workers on a garbage truck and they pick up 240 cans of trash, the average product of labor is ( ). 3. If Harry the Hat's Pizza place's total fixed cost (TFC) is $100 and its total variable cost (TVC) is $200 when it produces 20 pizzas, its average total cost (ATC) is ( ). 4. If Average Total Cost is $6 and Average Variable Cost is $2, the Average Fixed Cost would be ( ). 5. If average variable cost (AVC) is $5 when Ledo's produces 30 pizzas, its total variable cost is ( ). 6. If Slippery Jim's Pizza's total fixed cost (TFC) is $350 when it produces 5 pizzas, its total fixed cost when it produces 6 pizzas is ( ). 7. If Slippery Jim's
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