| cost of producing 590 gadgets is --- the average total cos adgets.

Explain that ''A price change isnot necessarily always in the contractor’s favor''?

When the first automobiles were built in 1901, they were made by skilled workers using hand tools. Later, in 1913, Henry Ford introduced the moving assembly line, which lowered costs and speeded production. Over the years, the production line has become ever more mechanized, and today robots replace people in many tasks. Search The graph below shows the demand curve for cars in 1901. Suppose the least-possible cost of producing a car is $250 and that the efficient scale is 0.5 cars a day. D Draw the average total cost curve in 1901. Label it ATC₁ 500- 400- Price (dollars per car) 300- Q SON The graph below shows the demand curve for cars in 2020. Suppose the least possible cost of producing a car is $10,000 and that the efficient scale is 200,000 cars a day Draw the average total cost curve in 2020 Label it ATC₂ Price (dollars per car) 50,000 40,000 30,000+ Next Q

Programmers Websites Marginal Product Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 0 0 - - 4000 - - - - 1 2 2 2000 6000         2 6 4 4000 8000         3 14 8 6000 10000         4 20 6 8000 12000         5 24 4 10000 14000         6 26 2 12000 16000             Webby pays $4,000 a month in rent for office space and equipment. It pays each programmer $2,000 a month. There are no other production costs. Fill in the rest of the columns.