+ Q of Workers 0 1 2 3 4 A Bakery specializes in making bread. It has fixed costs associated with space and equipment of $200 per day. Each worker is paid $80 per day, which is their only variable cost. Your task is to fill- in the cells (those with a ?) in the following table. (Round to two decimal places - Example: 2.33) 5 Q of Bread (Loaves per day) O 20 38 53 63 65 Marginal Product of each worker ? ? ? ? Total Variable Cost (TVC) ? JU Average Total Variable Fixed Cost Cost (AVC) (TFC) TU ? ? ? ? ? Average Fixed Cost (AFC) ~. ? ? 2. Total Cost (TC) ? 2 2 ~ Marginal Cost (MC) of each loaf ? BU ? ? ?

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter4: Extent (how Much) Decisions
Section: Chapter Questions
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Can you assist in filling out this chart? 

Q of
Workers
0
1
2
3
4
A Bakery specializes in making bread. It has fixed costs associated with space and equipment of
$200 per day. Each worker is paid $80 per day, which is their only variable cost. Your task is to fill-
in the cells (those with a ?) in the following table. (Round to two decimal places – Example: 2.33)
5
Q of
Bread
(Loaves
per day)
0
20
38
53
63
65
Marginal
Product
of each
worker
?
?
?
?
?
Total
Variable
Cost
(TVC)
?
?
?
?
?
Average
Variable
Cost
Total
Fixed
Cost
(AVC) (TFC)
?
?
?
?
?
?
?
?
?
Average Total
Fixed
Cost
(TC)
Cost
(AFC)
?
?
?
?
?
?
?
?
?
?
סי
Marginal
Cost (MC)
of each
loaf
?
סיי
?
?
?
?
Transcribed Image Text:Q of Workers 0 1 2 3 4 A Bakery specializes in making bread. It has fixed costs associated with space and equipment of $200 per day. Each worker is paid $80 per day, which is their only variable cost. Your task is to fill- in the cells (those with a ?) in the following table. (Round to two decimal places – Example: 2.33) 5 Q of Bread (Loaves per day) 0 20 38 53 63 65 Marginal Product of each worker ? ? ? ? ? Total Variable Cost (TVC) ? ? ? ? ? Average Variable Cost Total Fixed Cost (AVC) (TFC) ? ? ? ? ? ? ? ? ? Average Total Fixed Cost (TC) Cost (AFC) ? ? ? ? ? ? ? ? ? ? סי Marginal Cost (MC) of each loaf ? סיי ? ? ? ?
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