A jeweler has hired a craftsman to make handmade jewelry. All items produced are identical, but the jeweler notes that the 15th item produced costs $425 while the 30th item produced costs $375. What is the percentage change in labour cost when output is doubled from 15 to 30?   a.-11.8% b.13.3% c.-13.3% d.11.8% e.88.2%

Principles of Economics 2e
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Chapter7: Production, Costs, And Industry Structure
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Problem 31CTQ: A common name for fixed cost is overhead. If you divide fixed cost by the quantity of output...
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A jeweler has hired a craftsman to make handmade jewelry. All items produced are identical, but the jeweler notes that the 15th item produced costs $425 while the 30th item produced costs $375.
What is the percentage change in labour cost when output is doubled from 15 to 30?

 

a.-11.8%
b.13.3%
c.-13.3%
d.11.8%
e.88.2%
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