Question
Suppose your business is currently employing 750 workers, the only variable input, at a wage rate...
Suppose your business is currently employing 750
workers, the only variable input, at a wage rate of $48. The
average product of labour is 96, the last worker added 6 units to
total output and total fixed cost is $12000.
Queation
a. What is the marginal cost?
b. What is the average variable cost?
c. How much output is being produced?
d. What is the average total cost?
e. Is average variable cost increasing or decreasing? What about
average total cost?
Homework Answers
Answer #1
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