Suppose that Bill owns an automobile collision repair shop and the table below s

Question

Suppose that Bill owns an automobile collision repair shop and the table below shows the quantity of cars repaired per month according to how many workers Bill hires. Assume he pays each worker

$6,000

$8,000

per month.

Using the information provided, complete the table given below. (Enter your responses rounded to two decimal places.)

This Quiz: 21 pts possible Question Help Suppose that Bill owns an automobile collision repair shop and the table below shows the quantity of cars repaired per month according to how many workers Bil hires. Assume he pays each worker $6,000 per month and his fixed cost equals $8,000 per month. Using the information provided, complete the table given below. (Enter your responses rounded to two decimal places) Quantity ofQuantity of Cars Average Total Cost Workers Total Cost to ho per Month 0 20 30 40 50 Fixed Cost S8,000 Variable Cost 2 3 4 Social Sciences

Explanation / Answer

Quantity of workers Quantity of cars FC VC=6000*quantity of workers TC=FC+VC ATC=TC/Q 0 0 8000 0 8000 1 20 8000 6000 14000 14000 2 30 8000 12000 20000 10000 3 40 8000 18000 26000 8666.666667 4 50 8000 24000 32000 8000 5 55 8000 30000 38000 7600

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