A furniture firm hires workers to produce chairs. The table below how total number of chairs increases as workers increa

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A Furniture Firm Hires Workers To Produce Chairs The Table Below How Total Number Of Chairs Increases As Workers Increa 1 (32.34 KiB) Viewed 89 times

A furniture firm hires workers to produce chairs. The table below how total number of chairs increases as workers increase. Number of Workers 1 Total Number of Chairs 4 2 NM 10 18 3 4 24 5 28 6 6 30 (a) Assume that worker cost $50 regardless of the chairs the worker produces. The company has an advertising fees of $500. In the short run, considering the shut-down condition, what is the lowest price per chair? Explain your answer. (b) In the long run, is the lowest price per chair higher or lower than that of the short run? Explain your answer.