Asked by Anonymous

A firm currently uses 40,000 workers to produce 180,000 units per day. The daily wage per worker is $100, and the price of the firm’s output is $28. The cost other variable input is $500,000 per day. (Note assume that output is constant at the level of 180,000 units per day.)

Total Variable Cost
Total Cost
Average Variable Cost
Average Total Cost

Answers

Answered by anon
Total Variable Cost = (Number of Workers x Worker’s Daily Wage) + Other Variable Costs
Total Costs = Total Variable Costs + Total Fixed Costs
Total Revenue = Price * Quantity
Average Variable Cost = Total Variable Cost / Units of Output per Day
Average Total Cost = (Total Variable Cost + Total Fixed Cost) / Units of Output per Day
Complete the following:
Answered by Jennifer
TVR = 4,500,000
TV = 5,700,000
AVC = 25
ATC =11.4
There are no AI answers yet. The ability to request AI answers is coming soon!

Related Questions