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Table 14-5 The following table shows the production and costs for the Wooden Chair Factory. Marginal Labor Capital Output Product of Cost of Cost of Total Labor (Number of (Number of (Chairs Workers Machines Cost workers) machines) produced per (Chairs hour) (Dollars) (Dollars (Dollars) produced per hour) 5 10 20 VO U A W N - N N N N N N N 35 55 70 80 Refer to Table 14-5 . Each worker at the Wooden Chair Factory costs $12 per hour. The cost of each machine is $20 per day regardless of the number of chairs produced. What is the total cost of producing at a rate of 55 chairs per hour if the factory operates 8 hours per day? O a. $480 O b. $520 c. $616 O d. $576 Ow Icon Key