Suppose your business prints wedding invitations. You purchased a printer for $6000. Paper costs you $1...
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Suppose your business prints wedding invitations. You purchased a printer for $6000. Paper costs you $1 a page. Fill in the table below and circle the minimum ATC and minimum AVC. (4 pts.) Number of Invitations (pages) Fixed Cost (FC) Labor 0 1 2 3 4 0 5 30 2. Suppose the cost of labor per unit (per week)-$1000. Fixed cost (per week)-$500. The price of the product-$100. (6 pts.) Marginal Revenue (MR) Output Marginal Product of Labor (MPL) Total Cost (TC) Total Revenue (TR) 50 100 1,000 0 15 25 31 39 Variable Cost (VC) 43 Average Variable Cost (AVC) Total Cost (TC) How many units of output should be produced? Average Total Cost (ATC or AC) Profit (n) Suppose your business prints wedding invitations. You purchased a printer for $6000. Paper costs you $1 a page. Fill in the table below and circle the minimum ATC and minimum AVC. (4 pts.) Number of Invitations (pages) Fixed Cost (FC) Labor 0 1 2 3 4 0 5 30 2. Suppose the cost of labor per unit (per week)-$1000. Fixed cost (per week)-$500. The price of the product-$100. (6 pts.) Marginal Revenue (MR) Output Marginal Product of Labor (MPL) Total Cost (TC) Total Revenue (TR) 50 100 1,000 0 15 25 31 39 Variable Cost (VC) 43 Average Variable Cost (AVC) Total Cost (TC) How many units of output should be produced? Average Total Cost (ATC or AC) Profit (n)
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1 Complete the table as below Excel workings The resultant figures are as follows S... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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