The dean of a college faces the following costs: graders, faculty, classroom space, and chalk. Of these costs, which are likely to be variable in the long run?

Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers.

Graders.
Faculty.
Classroom space.
Chalk.


Webby Inc. is a web development company. Webby’s monthly production function for developing websites is given in the table below. Webby pays $5,000 a month in rent for office space and equipment. It pays each programmer $2,000 a month. There are no other production costs. Fill in the table of production costs.

Instructions: Round your answers to the nearest dollar.

Programmers Websites Variable
cost Total
cost Average
fixed cost Average
variable cost Average
total cost Marginal
cost
0 0 — — — — —
1 2
2 6
3 14
4 20
5 24
6 26