Question

Score: 0 of 3 pts < 14 of 31 (16 complete) v → N Score: 40%, 16 of 40... 11.3 Study Plan Problem 7 Question Help Cost (dollars per week) 45007 Sue's Surfboards hires workers at $500 a week. Its total fixed cost is $1,000 a week. The table shows the firm's total product schedule and the graph shows the cost curves. Labor Output (workers per week) (surfboards per week) 40007 35007 ܝ 30 3000- 70 ܟܬ ܚ 25007 ܠ ܗ 2000 ܗ 120 160 190 210 When the Sue's output is 190 surfboards a week, the firm's total fixed cost is $| |, total variable cost is $ , and total cost is $ . 1500- 1000-4 5007 04 o 20 40 60 80 100 120 140 160 180 200 220 Output (surfboards per week) >>> Draw only the objects specified in the question.

Answer 1

When the output is 190, workers hired = 5 so total variable cost = 5*500 = 2500

Total fixed cost remains constant = 1000

TFC =1000

TVC = 2500

TC = 1000+2500 = 3500