The market for drones is perfectly competitive. Labor is the only variable input. The fixed cost is $371. Based on the information in the table below, what is the total cost when Q=300? Enter a number only, drop the $ sign. Wage rate =$100 per unit of Labour Quantity Quantity of of Labour Output 3. 86 14 179 30 300 54 433
The market for drones is perfectly competitive. Labor is the only variable input. The fixed cost is $371. Based on the information in the table below, what is the total cost when Q=300? Enter a number only, drop the $ sign. Wage rate =$100 per unit of Labour Quantity Quantity of of Labour Output 3. 86 14 179 30 300 54 433
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 19RQ: What shapes would you generally expect each of the following cost curves to have: fixed costs,...
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Transcribed Image Text:The market for drones is perfectly competitive. Labor is the only variable input. The fixed cost is
$371.
Based on the information in the table below, what is the total cost when Q=300? Enter a number
only, drop the $ sign.
Wage rate =$100 per unit of Labour
Quantity Quantity
of
of
Labour Output
3
86
14
179
30
300
54
433
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