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March 4, 2015

March 4, 2015

Posted by **ann** on Sunday, April 18, 2010 at 6:35pm.

- financing -
**Anonymous**, Sunday, January 18, 2015 at 1:46pmA firm currently uses 50,000 workers to produce 120,000 units of output per day. The daily wage per worker is $100, and the price of the firm's output is $48. The cost of other variable inputs is $400,000 per day.

Assume that total fixed cost equals $900,000. Calculate the values for the following four formulas:

•Total Variable Cost = (Number of Workers x Worker's Daily Wage) + Other Variable Costs

•Average Variable Cost = Total Variable Cost / Units of Output per Day

•Average Total Cost = (Total Variable Cost + Total Fixed Cost) / Units of Output per Day

•Worker Productivity = Units of Output per Day / Number of Workers

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