Question

Chapter 9 Cost and Productivity Exercises Name: The following problems are designed to help with the relationship between the costs and productivity measures. Answer each question separately because it does not depend on the other answers. 1. If Bill's Pizza Parlor can serve 30 tables with 3 waiters and 35 tables with 4 waiters, the marginal product of the fourth waiter is ). 2. If Clean Ft. Myers garbage collection company employs 2 workers on a garbage truck and they pick up 200 cans of trash, the average product of labor is . 3. If a Bill's total fixed cost (TFC) is $100 and its total variable cost (TVC) is $200 when it produces 20 pizzas, its average total cost (ATC) is ( ). 4. If ATC is $5 and AVC is $2, the AFC is . 5. If average variable cost (AVC) is $5 when Bill's produces 30 pizzas, its total variable cost is ). 6. If Bill's total fixed cost (TFC) is $350 when it produces 5 pizzas, its total fixed cost when it produces 6 pizzas is ). 7. If Bill's total fixed cost (TFC) is $200 when he produces 40 pizzas, its average fixed cost (AFC) is ( ) 8. If Bill's average variable cost (AVC) is $100 when he produces 5 pizzas and his total fixed cost (TFC) is $100, his total cost (TC) is ). 9. If The Burger Palace sells 25 hamburgers and its total costs are $75, its per- hamburger cost is ). 10. If FSW's total variable cost (TVC), such as professors' salaries and dry erase markers, is $6,000,000 when it has 1,000 students and the total fixed costs (TFC), such as buildings, is $1,000,000, the per-student total cost is ).

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Answer 1

forre, Hergmal produs of Labor a ch Chorgen in total produch Chorge in Laber for 4th Worker mp. 304 44x35~3x 30 43 - 140-90 Top = 50) 2) Av. product = total product Laber = 2 x 220 2 3). Since, -[Ap = 200 TC2 TFC touc Joalho =$300

ATC = TC quently - 300 20 42 53 THE -$15 ATC= $5 ATC = Are + Ave 5 - AFC + 2 ARC = 63 Tuca Ave x quanking = 5x30 TVC a $150 The always remain Constant in the short son. - IFC = $350) (to 8 p22r) 66

- Ay -TFC - Tre q Are = $5 8) AFATG Are [ Tezo? At Thea Avo xq = 100 45 - $500 T= TFCtgive a loot 500 =$600 g) per hamburger cost = 75 $3 10) TC = TEC truc - 1 oovova + 6000 000 = $70000 Now Tc (student = 70000u - 1 DOO r Tc (studant 2 $7000/=