Brenda's candle factory rents equipment for making candles and hires students. Brenda pays $60 a day for equipment and $120 a day to each student she hires. The table shows Brenda's total product schedule. *** Calculate Brenda's average fixed cost, average variable cost, average total cost, and marginal cost and complete the table. >>> Answer to 2 decimal places. Total Average Average Average Marginal Labor product fixed variable total cost cost (dollars per (dollars per candle candle) cost (workers (candles per day) per day) cost 1 20 3 44 60

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 3CQQ
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C
Brenda's candle factory rents equipment for making candles and hires
students.
2
Brenda pays $60 a day for equipment and $120 a day to each student she
hires.
The table shows Brenda's total product schedule.
Calculate Brenda's average fixed cost, average variable cost, average total
cost, and marginal cost and complete the table.
>>> Answer to 2 decimal places.
Help me solve this
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5
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n
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Total
Labor product
(workers (candles
per day) per day)
1
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2
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3
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9
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60
k
Average Average Average Marginal
fixed variable total cost
cost (dollars per
cost
cost
(dollars per candle
candle)
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0
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p
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D
Transcribed Image Text:C Brenda's candle factory rents equipment for making candles and hires students. 2 Brenda pays $60 a day for equipment and $120 a day to each student she hires. The table shows Brenda's total product schedule. Calculate Brenda's average fixed cost, average variable cost, average total cost, and marginal cost and complete the table. >>> Answer to 2 decimal places. Help me solve this W S X # 3 e d C C IEEXI Animation $ 4 r Get more help. % 5 V t g O Oll A 6 b y h & 7 n O u j * 00 8 Total Labor product (workers (candles per day) per day) 1 20 2 m 3 O ( 9 44 60 k Average Average Average Marginal fixed variable total cost cost (dollars per cost cost (dollars per candle candle) Clear all O ✓ ) 0 Check answer p ➜ > 0 0 | 1 DOB + A ? 11 = - D
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