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Homework V
Principles of Microeconomics 1101 Lecture 017
Fall Semester – 2008
Mike Walrath
Due 11/24/08
Note:
Homework must be turned in at the end of lecture on Monday, 11/24/08 (see
syllabus for late homework policy).
Your homework must be in chronological order.
Answer questions in order and please
put all tables and graphs in the same area as
your answer
.
Type everything but graphs and calculations for full credit.
Label all
graphs for full credit.
Show all work.
Bonus Question
(5 points)
Write your TA’s name and section number on the top right
of the first page of your homework.
Question 1
(24 points):
Daniel's clothing company produces hooded sweatshirts. His
fixed cost is the cost of his sewing machines, and his variable cost comes from
maintenance for the machines and his workers. Use the table to answer the following
questions.
Number of
Machines
Fixed Cost
Total Variable Cost
10 Shirts
20 Shirts
30 Shirts
1
$200
$400
$1200
$1700
2
$500
$300
$700
$1300
3
$900
$100
$400
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 Spring '08
 walrth
 Economics, Microeconomics, average total cost, Daniel, LATE HOMEWORK POLICY, longrun average total

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