Authors libby rittenberg 460
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4. What is the average variable cost of cleaning seven
classrooms?
5. What is the marginal cost of cleaning the seventeenth
classroom?
6. What is the average total cost of cleaning twelve classrooms?
5. The average total cost for printing 10,000 copies of an issue of a
magazine is $0.45 per copy. For 20,000 copies, the average total cost
is $0.35 apiece; for 30,000, the average total cost is $0.30 per copy.
The average total cost continues to decline slightly over every level of
output that the publishers of the magazine have considered. Sketch
the approximate shapes of the average and marginal cost curves.
What are some variable costs of publishing magazines? Some fixed
costs?
6. The information in the table explains the production of socks.
Assume that the price per unit of the variable factor of production
(L) is $20 and the price per unit of the fixed factor of production
(K) is $5.
Units of Fixed Factor
(K)
Units of Variable Factor
(L)
Total Product
(Q)
10
0
0
10
1
2
10
2
5
10
3
12
10
4
15
10
5
16
Attributed to Libby Rittenberg and Timothy Tregarthen
Saylor URL: />
Saylor.org
460
