To grow melons, Ty leases 1 field for $40 a day and capital for $100 a day and hires students at $90 a day Suppose that Ty now leases 2 fields for $80 a day and twice as much capital for $200 a day The table shows Ty's output What is Ty's average total cost of a melon when he farms 2 fields and produces 822 melons a day? ccm When Ty farms 2 fields and produces 822 melons a day, his average total cost is $a melon >>>Answer to 2 decimal places Labor (students) 10 1 2 3 4 5 6 7 Output 1 field 0 80 (melons per day) 180 300 400 480 Output 2 fields 540 580 0 176 376 620 822 984 1106 1187

To grow melons, Ty leases 1 field for $40 a day and capital for $100 a day and hires students at $90 a day Suppose that Ty now leases 2 fields for $80 a day and twice as much capital for $200 a day The table shows Ty's output What is Ty's average total cost of a melon when he farms 2 fields and produces 822 melons a day? ccm When Ty farms 2 fields and produces 822 melons a day, his average total cost is $a melon >>>Answer to 2 decimal places Labor (students) 10 1 2 3 4 5 6 7 Output 1 field 0 80 (melons per day) 180 300 400 480 Output 2 fields 540 580 0 176 376 620 822 984 1106 1187

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 37CTQ: How would an improvement in technology, like the high-efficiency gas turbines or Pirelli tire plant,...

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