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E202Solutions4.1 - Problem Set Four Solutions Chapter 6 3...

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Problem Set Four Solutions Chapter 6 3. The Paducah Slugger Company makes baseball bats out of lumber and receives $10 for each finished bat. Paducah’s only factors of production are lathe operators and a small building with a lathe. The number of bats per day it produces depends on the number of employee-hours per day as shown below. The wage is $15 per hour. Number of bats per day Number of employee-hours per day 0 0 5 1 10 2 15 4 20 7 25 11 30 16 35 22 a. Paducah’s daily fixed cost for the lathe and building is $60. Construct a table showing total revenue, variable cost, total cost, and daily profit for various quantities of daily bat production.
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