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Consider a production process where flowers are grown the output using gardeners labor and greenhouses capital The quantity of flowers grown per day with various combinations of labor and

Consider a production process where flowers are grown? (the output) using gardeners? (labor) and greenhouses? (capital). The quantity of flowers grown per day with various combinations of labor and capital are shown in the table below. Suppose that each gardener is paid $?180per day and the greenhouse is rented for $300 per day

Fill in total cost in the table below. ?(Enter your responses as? integers.)

Labor

Capital

Output

                         Total Cost

0

1

0

?$300

1

1

80

480

2

1

240

660

3

1

320

840

4

1

360

1020

5

1

380

1200

Next, fill in average total cost in the table. ?(Enter your responses as real numbers rounded to two decimal? places.) I am stuck here

Labor

Capital

Output

Total Cost

Average Total Cost

0

1

0

?$300

?-

1

1

80

480

?$

2

1

240

660

 

3

1

320

840

 

4

1

360

1,020

 

5

1

380

1,200

 
 

Apr 11 2020 Read more Less More

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