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 for 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 average total cost of production when teh firm hires 7 workers. $10.06,$9.64,.81, .70
Everyone knows the life lesson “you learn from your mistakes” and “no one is perfect.” Although these may ring true,…
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