Jessie Swanson owns a pizza restaurant. She leases two pizza…
Questions
Jessie Swаnsоn оwns а pizzа restaurant. She leases twо pizza oven for which she pays $50 each per day. She cannot increase the number of ovens she leases without giving the lease holding company six month's notice. She can hire as many workers as she wants, at a cost of $100 per day per worker. These are the only two inputs she uses to produce pizzas. Fill in the remaining columns in the following table. With which unit of output does Jessie's diminishing returns set in? Quantity of Workers Quantity of Pizzas Fixed Cost Variable Cost Total Cost Average Total Cost Marginal Cost 0 0 [fcrow1] [tcrow1] 1 800 [fcrow2] [vcrow2] [tcrow2] [atcrow2] [mcrow2] 2 1,350 [fcrow3] [vcrow3] [tcrow3] [atcrow3] [mcrow3] 3 1,750 [fcrow4] [vcrow4] [tcrow4] [atcrow4] [mcrow4] 4 2,050 [fcrow5] [vcrow5] [tcrow5] [atcrow5] [mcrow5] 5 2,250 [fcrow6] [vcrow6] [tcrow6] [atcrow6] [mcrow6] 6 2,350 [fcrow7] [vcrow7] [tcrow7] [atcrow7] [mcrow7]
Jessie Swаnsоn оwns а pizzа restaurant. She leases twо pizza oven for which she pays $50 each per day. She cannot increase the number of ovens she leases without giving the lease holding company six month's notice. She can hire as many workers as she wants, at a cost of $100 per day per worker. These are the only two inputs she uses to produce pizzas. Fill in the remaining columns in the following table. With which unit of output does Jessie's diminishing returns set in? Quantity of Workers Quantity of Pizzas Fixed Cost Variable Cost Total Cost Average Total Cost Marginal Cost 0 0 [fcrow1] [tcrow1] 1 800 [fcrow2] [vcrow2] [tcrow2] [atcrow2] [mcrow2] 2 1,350 [fcrow3] [vcrow3] [tcrow3] [atcrow3] [mcrow3] 3 1,750 [fcrow4] [vcrow4] [tcrow4] [atcrow4] [mcrow4] 4 2,050 [fcrow5] [vcrow5] [tcrow5] [atcrow5] [mcrow5] 5 2,250 [fcrow6] [vcrow6] [tcrow6] [atcrow6] [mcrow6] 6 2,350 [fcrow7] [vcrow7] [tcrow7] [atcrow7] [mcrow7]