Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Kim hires students to mow lawns at $400 a week

Kim hires students to mow lawns at $400 a week

Accounting

Kim hires students to mow lawns at $400 a week. She leases equipment that costs $450 a week.

The table gives Kim's a total product and total cost schedules

 

Labor (Students) Total product (Lawns per week) Total cost (dollar per week)
0 0 450
1 3 850
2 9 1250
3 14 1650
4 18 2050
5 21 2450
6 23 2810

 

At what output is Kim's average total cost at a minimum?

Note: if two quantities have the same average total cost, we take the average quantity as that at minimum average total cost.

Kim's average total cost is at a minimum when she mows _____ lawns a week. Round answer to an integer.

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

  • Average total cost=Total costTotal ProductAverage total cost=Total costTotal Product

 

Labor (Students) Total product (Lawns per week) Total cost (dollar perweek) Average total cost
0 0 450 NA
1 3 850 283
2 9 1,250 139
3 14 1,650 118
4 18 2,050 114
5 21 2,450 117
6 23 2,810 122

At what output is Kim's average total cost at a minimum?

Kim's average total cost is at a minimum when she mows 4 lawns a week.