Homework: Chapter 11, Assignment 2 Score: 0 of 1 pt Concept: Production Costs 18

Question

Homework: Chapter 11, Assignment 2 Score: 0 of 1 pt Concept: Production Costs 180125 (11 complete) HW Score: 4096, 10012: Question Help Consider a production process where flowers are grown (the output) using gardeners (labor) and greenhouses (capital) The quantity of fiowers grown per day with various combinations of labor and capital are shown in the table below Suppose that each gardener is paid $250 per day and the greenthouse is rented for $450 per day Fill in total cost in the table below. (Enter your responses as integers) Labor Capital Output Total Cost 160 480 640 720 760

Explanation / Answer

Answer

TC=L*250+FC

L C Q TC 0 1 0 450 1 1 160 700 2 1 480 950 3 1 640 1200 4 1 720 1450 5 1 760 1700

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