ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question

12

Tom leases a farmer's field for $100 a day and grows pineapples. He pays students $70 a day to pick pineapples and he leases capital at $20 a day. The table gives the daily output. What is Tom's total cost and average total cost if he produces 123 pineapples a day? When Tom produces 123 pineapples a day, total cost is a day. Output (pineapples per day) Labor (students) 1 25 55 3 75 4 93 109 6. 123 7 135
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Transcribed Image Text:Tom leases a farmer's field for $100 a day and grows pineapples. He pays students $70 a day to pick pineapples and he leases capital at $20 a day. The table gives the daily output. What is Tom's total cost and average total cost if he produces 123 pineapples a day? When Tom produces 123 pineapples a day, total cost is a day. Output (pineapples per day) Labor (students) 1 25 55 3 75 4 93 109 6. 123 7 135
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