
Table 11-6
-Refer to Table 11-6.Alicia Gregory owns a foot massage business.She leases 4 computer-controlled massage booths, for which she pays $125 per day.She cannot increase the number machines she leases without giving the manufacturer 3 months' notice.She can hire as many workers as she wants at a cost of $75 per day per worker.These are the only two inputs she uses in her business.Use this information to fill in the columns in the above table.
Correct Answer:
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Q13: The formula for total fixed cost is
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Q170: If the marginal product of labor is
Q171: If average total cost is falling, marginal
Q172: If marginal cost is above the average
Q173: Average variable cost can be calculated using
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