Suppose the Local Newspaper Hires Students to Fold and Bag

question 142

Essay

Suppose the local newspaper hires students to fold and bag newspapers for delivery and pays them $20 per shift.Five students can fold and bag 300 newspapers per shift.The fourth student added 50 newspapers to total output.The cost of the capital the firm uses is fixed at $50 per shift.
a.Is the newspaper operating in the long run or short run? Why?
b.What is the average product of 5 students?
c.Calculate the total fixed cost,total variable cost,and total costs of folding and bagging 300 newspapers.
d.Calculate the average fixed cost,average variable cost,and average total costs of folding and bagging 300 newspapers.
e.What is the marginal cost of one of the 50 newspapers folded and bagged by the fourth student?

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Definitions:

Societal Epidemics

The rapid spread of behaviors, patterns, or trends across a society or community, which can influence social norms and public health.

Zoe

In philosophical contexts, often refers to the aspect of life that pertains to the essential, innate vitality or life force of living organisms.

Biological Bodies

pertain to the physical aspects of human beings, including their genetic, anatomical, and physiological characteristics.

Knowledge Production

The processes and methods through which knowledge is generated, validated, and communicated in various fields, emphasizing the social and cultural contexts that influence these processes.