03 Jun Question Vaclea is a company that makes vacuum-cleaners
Question
Vaclea is a company that makes vacuum-cleaners and then sells them door-to-door. Here is the relationship between the number of workers and Clean Sweep’s output in a given day:
Workers – Output – Marginal Product – Average Total Cost – Marginal Cost
0 0
1 20
2 50
3 90
4 120
5 140
6 150
7 155
a) Fill in the column of marginal products. What pattern do you see? How might you explain it?
b) A worker costs €100 a day, and the firm has fixed costs of €200. Use this information to fill in the column for total cost.
c) Fill in the column for average total cost. (Recall that ATC=TC/Q.)
d) Now fill in the column for marginal cost. (Recall that MC=?TC/?Q.)
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