Week 12 Assignment Template(1) - WEEK 12 ASSIGNMENT TEMPLATE Name Mazin Alabdulkarim DIRECTIONS Use BOLD TYPE to fill in the yellow highlighted blanks

Week 12 Assignment Template(1) - WEEK 12 ASSIGNMENT...

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WEEK 12 ASSIGNMENT TEMPLATE Name: Mazin Alabdulkarim DIRECTIONS: Use BOLD TYPE to fill in the yellow highlighted blanks. Be sure to RETAIN the YELLOW HIGHLIGHTS when you fill in your answers Chapter 13 – Problems and Applications #4 Nimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship between the number of workers and Nimbus’s output in a given day: Workers Quantit y Marginal Product Total Cost ATC Marginal Cost 0 0 ---- 200 ---- 1 20 20 300 15.00 5.00 2 50 30 400 8.00 3.33 3 90 40 500 5.56 2.50 4 120 30 600 5.00 3.33 5 140 20 700 5.00 5.00 6 150 10 800 5.33 10 7 155 5 900 5.81 20.00 a. Fill in the column of marginal products. What pattern do you see? How might explain it. Marginal product rises in the start and then declines because of diminishing marginal product. 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. What pattern do you see?
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