Question: please answer the above questions Question 3. Nimbus, Inc., makes brooms and then sells them doorto-door. Here is the relationship between the number of workers
please answer the above questions
Question 3. Nimbus, Inc., makes brooms and then sells them doorto-door. Here is the relationship between the number of workers and Nimbus's output in a given day: Workers Output Marginal Product Total Cost Average Total Cost Marginal Cost Workers Output Marginal Total Cost Average Total Marginal Product Cost Cost 0 0 1 2 3 4 5 6 7 20 50 90 120 140 150 155 a) Fill in the column of marginal products. What pattern do you see? How might you explain it? b) A worker costs $100 a day, and the firm has fixed costs of $200. Use this information to fill in the column for total cost. c) Fill in the column for average total cost. (Recall that ATC=TC/Q.) What pattern do you see? d) Now fill in the column for marginal cost. (Recall that MC=ATC/AQ.) What pattern do you see? e) Compare the column for marginal product and the column for marginal cost. Explain the relationship. f) Compare the column for average total cost and the column for marginal cost. Explain the relationship
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