Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. when the firm hires 6 workers the firm produces 90 units of output. fixed costs of production are $6 and the variable cost per unit of labor is $10. the marginal product of the seventh unit of labor is 4. given this information, what is the marginal cost of production when the firm hires the 7th worker?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. when the firm hires 6 workers the firm ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
To better facilitate an understanding of layout issues, Arnold Palmer Hospital studies using A. queuing theory. B. transportation modeling. C. logistics analysis. D. simulation. E. linear programming.
Answers (1)
For whom were the first ready-to-wear suits made in America? a. soldiers b. pilots c. sailors d. businessmen ((what subject is this suppose to go in?))
Answers (1)
Serves the needs of citizens is a characteristic of which market structure?
Answers (1)
A borrower asks the notary signing agent for the contact information for the closing agent and the lender's representative. the notary signing agent should respond by:
Answers (1)
Being a good corporate citizen and contributing to the community are examples of __ responsibilities.
Answers (1)
New Questions in Business
Which of the following characteristics would lead the auditor to assess control risk at a higher level? a. It is difficult for the auditor to determine or gain access to the organization or individuals who own and/or control the entity. b.
Answers (1)
The reason for the Fed being set up as an independent agency of government is to:
Answers (1)
Headings in reports that describe the content of the section and may even give a conclusion about the section are called:
Answers (1)
Coronado Company purchased land for $80,000. The company also paid $12,000 in accrued taxes on the property, incurred $5,000 to remove an old building, and received $2,000 from the salvage of the old building.
Answers (1)
Trueview video ads can be especially effective for driving what goals?
Answers (1)