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Cengage xy MindTaP-Cengage Leer x Home I chegg.comn × C |Not secure lng.cengage.com/static/nb/ui/index.html?nbId=638315&nbNodeld;:23561 9273&eISBN;:9781 3370965774|&parentld;:2356195 5% MIND TAP Additional Problems& Applications (Ch 13) Open link in new tab Open link in new window Open link in incognito window Save link as. Copy link address Inspect Due on Tomerow a 1159 PM EST Back to Assignment Keep the Highest: 2 4. Problems and Applications Q4 Ctri-Shift Nimbus, Inc., makes brooms and then selle them door-to-door Here is the relationship betwsan the number of workers and Nimbus's output in a given In the folowing table, complore the marginal preduct column. Workers Output Marginal Product Total Cost Marginal Cost Average Total Cost 20 50 90 4 120 140 150 155 A worker cots $100 a day, and he firm ha: fixed costs of $200 Use this information to fil in the column for total cost in the previous table. il in the column for merginel cost in the previous teble. (Hint: MC) Fill in the column for everege total cost the previous teble (Hit ATC = which of the fellowing statement: are tru about the patterns found in this table? Check al that appy. O Type here to search 9:18 PM ) 11/25/2017

Explanation / Answer

TC = FC + Number of workers x Worker costs

Correct options:

- ATC is U shaped

- When MC is greater than ATC, ATC is rising

- When marginal product is rising, marginal cost is falling.

L Q MPL TC ($) MC ($) ATC ($) 0 0 200 1 20 20 300 5.00 15.00 2 50 30 400 3.33 8.00 3 90 40 500 2.50 5.56 4 120 30 600 3.33 5.00 5 140 20 700 5.00 5.00 6 150 10 800 10.00 5.33 7 155 5 900 20.00 5.81

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