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Kim hires students to mow lawns at $400 a week
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.
Expert Solution
- 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.
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