Question

1. Nimbus, Inc. produces and sells brooms. This table shows the relationship between the number of employees and the daily production of Nimbus

(* Use only numbers and decimal points. Use two decimal places for all amounts of money. Round correctly)
A. Fill in the marginal product column
B. An employee costs $ 120.00 per day and the company has fixed costs of $ 300.00. Use this information to fill in the total cost column.
C. Fill in the column for total average cost (remember that average total costs + Total cost / Amount)
D. Fill in the marginal cost column

Employees	Production	marginal product	total cost	average total cost	Marginal cost
0	0	0	0
1	25
2	60
3	110
4	140
5	170
6	185
7	200

Answer 1

MP = change in Production

TC= FC+VC

FC=300

VC=120*Employees

ATC=TC/Q

MC=change in TC/change in Q

Employees	Production	MP	TC	ATC	MC
0	0	0	300
1	25	25	420	16.80	4.80
2	60	35	540	9.00	3.43
3	110	50	660	6.00	2.40
4	140	30	780	5.57	4.00
5	170	30	900	5.29	4.00
6	185	15	1020	5.51	8.00
7	200	15	1140	5.70	8.00