Smith company is a perfectly competitive firm. the market price of its output is $10. the firm is currently producing 100 units

Question

4 years ago

13

Smith company is a perfectly competitive firm. the market price of its output is $10. the firm is currently producing 100 units

of output. at this level of output, the firmâ€™s average total cost is $10 per unit, its average variable cost is $9 per unit, and its marginal cost is $10 per unit. on the basis of this information, what can we say?

Business

1 answer:

Andreas93 [3] · Answer 1 · 2021-11-28T11:15:27+03:00

Andreas93 [3]4 years ago

6 0

<span>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</span>