(Step-by-Step) Consider a firm that has just built a plant, which cost $20,000. Each worker costs $5.00 per hour. Based on this information, fill in the table
Question: Consider a firm that has just built a plant, which cost $20,000. Each worker costs $5.00 per hour. Based on this information, fill in the table below.
|
Number of
Worker Hours |
Output | Marginal Product |
Fixed
Cost |
Variable
Cost |
Total
Cost |
Marginal
Cost |
Average
Variable Cost |
Average
Total Cost |
| 0 | 0 | -- | 20,000 | -- | -- | -- | ||
| 50 | 400 | 20,250 | ||||||
| 100 | 900 | 20,500 | ||||||
| 150 | 1300 | 20,750 | ||||||
| 200 | 1600 | 21,000 | ||||||
| 250 | 1800 | 21,250 | ||||||
| 300 | 1900 | 21,500 | ||||||
| 350 | 1950 | 21,750 |
Deliverable: Word Document 
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