Table 13-12 Eileen's Elegant Earrings produces pairs of earrings for its mail order catalogue business. Each pair is shipped in a separate box. She rents a small room for $150 a week in the downtown business district that serves as her factory. She can hire workers for $275 a week. There are no implicit costs. Boxes of Earrings Number of Produced per Marginal Product Cost Total Cost Cost of of of Workers Week of Labor Factory Workers Inputs 0 0 1 2 630, 3 890 330 $150 $275 $425 150 $825 $975 5 950 60 $1,375 6 10 $1,800 Refer to Table 13-12. One week, Eileen earns a profit of $125. If her revenue for the week is $1100, how many boxes of earrings did she produce?

Table 13-12 Eileen's Elegant Earrings produces pairs of earrings for its mail order catalogue business. Each pair is shipped in a separate box. She rents a small room for $150 a week in the downtown business district that serves as her factory. She can hire workers for $275 a week. There are no implicit costs. Boxes of Earrings Number of Produced per Marginal Product Cost Total Cost Cost of of of Workers Week of Labor Factory Workers Inputs 0 0 1 2 630, 3 890 330 $150 $275 $425 150 $825 $975 5 950 60 $1,375 6 10 $1,800 Refer to Table 13-12. One week, Eileen earns a profit of $125. If her revenue for the week is $1100, how many boxes of earrings did she produce?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 13CTQ: Think back to a purchase that you made recently. How would you describe your thinking before you...

See similar textbooks