Question

question 19

Hulver of hours raking and bagging leaves TAVO Bags of leaves collected 8 17 (4) 36 40 18. What is the marginal product of the 4th hour spent raking leaves? a. 9 bags of leaves b. 8 bags of leaves c. 7.75 bags of leaves d. 6 bags of leaves MPLE 19. If Grant pays workers $8 per hour to rake leaves, what is the average variable cost associate with collecting 40 bags of leaves? a. $8 b. $5 C. $4.25 d. $1.20

Answer 1

MP=Change in TP/Change in number of hours.

(TP) collected 8 17 25 31 MPLE 36 40

19.It takes 6 hours to collect 40 bags of leaves.

Total variable cost=8*6=48

Average variable cost=TVC/Total product

AVC=48/40

AVC=1.2

Answer-D