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{"ops":[{"insert":"Nimbus, Inc., makes brooms and then sells them to customers. Here is the relationship between the number of workers and Nimbus's output in a given day:\n\nWorkers:\n0 worker"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"1 worker"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"2 workers"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"3 workers"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"4 workers"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"5 workers"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"6 workers"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"7 workers"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\nOutput:\n0 broom"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"20 brooms"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"50 brooms"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"90 brooms"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"120 brooms"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"140 brooms"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"150 brooms"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"155 brooms"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\na.)Marginal product \/ b.)Total cost \/ c.)Average Total cost \/ d.)Marginal cost:\n\n?"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"?"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"?"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"?"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\uff1f"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\uff1f"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\uff1f"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\uff1f"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\nCalculate:\na.\uff09\u00a0Find the marginal products of 1 to 8.\u00a0\nb.\uff09\u00a0A worker costs $100 a day, and the firm has fixed costs of $200.\u00a0Use this information to find 1to 8 for total cost.\u00a0\nc.\uff09\u00a0\u00a0Find 1 to 8 for average total cost.\u00a0\nd.\uff09 Now find 1 to 8 for marginal cost.\u00a0\ne\uff09\u00a0Calculate the "},{"attributes":{"bold":true},"insert":"output level at minimum average total cost"},{"insert":" for Nimbus.\n\nf) Create Nimbus's marginal cost and average total cost curves.\u00a0Use the above cost curve to explain diminishing marginal\u00a0product and explain when Nimbus experiences diminishing marginal\u00a0product.\n"}]}

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