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Your accountants tell you that it costs $400 to set up an immunization program at a preschool and immunize one child against polio
Your accountants tell you that it costs $400 to set up an immunization program at a preschool and immunize one child against polio. It will cost $460 more to immunize 20 more children. What is the cost per child for the first child? What is the cost per child for these additional 20 children? What is the average cost per child? What economic concepts do these calculations illustrate with regard to costs.
Expert Solution
1) Per child cost for first childis equal to $400
It is equal to $400 because there is one child against polio in the preschool so first child cost is $400.
2) Per child cost for 20 children
=460/20
=$ 23
3) Average cost per child
Total cost = 400+460 = $860
Total child = 20+1 = 21
Average cost per child = 860/21 = 40.95
4) We can see in the above results, the cost per child for additional 20 children is very less that means it is equal to $23 and after immunization programme, the cost increases to 40.95. It can be decreased by adding more child in the immunization programme.
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