Hello,I am a nurse going back to get my BSN . . .
Hello,I am a nurse going back to get my BSN . . . this econ class is killing me! The problem below is
figuring average variable cost and average total cost. I am sure that it is simple, but I can’t seem to understand it.
thanks in advance!
candle factory rents equipment and hires students .Celia pays $60a day for the equipment and $100 a day to each student she hires. The table shows Celia’s total product schedule. At what output is Celia’s average total cost at a minimum? At what output is Celia’s average variable cost at a minimum?
Celia’s average total cost is at a minimum when she produces 258 candles a day. Celia’s average variable cost is a