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natta225 [31]
3 years ago
7

Item 6Item 6 Suppose that the firm's only variable input is labor. When 50 workers are used, the average product of labor is 50

and the marginal product of labor is 75. The wage rate is $80 and the total cost of the fixed input is $500. What is the marginal cost
Business
1 answer:
Kipish [7]3 years ago
3 0

Answer:

$1.07

Explanation:

The marginal cost measures the change in total cost of adding on more worker divided by the change in product for this additional worker (marginal product of labor). When adding one more worker, costs will increase by $80 (wage rate), while product will increase by 75. Therefore, the marginal cost is:

MC=\frac{80}{75}\\MC=\$1.07

The marginal cost is $1.07.

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Market size and growth of the total U.S. beer market was estimated to be around $106 billion. The total economic impact of the b
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Explanation:

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3 years ago
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This means to set a future contract rolling, we need to have an agreed date if delivery and currently agreed price by both parties involved.

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6 0
3 years ago
If a firm borrows ​$8 comma 000 from households at an annual interest rate of 6 ​percent, how much will the firm pay in interest
laila [671]

Answer:

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The interest amount is calculated by multiplying the rate of interest with the amount borrowed. In problem loan is 8,000 dollars and rate of interest is 6%, so the interest amount will be calculated as follow

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8 0
3 years ago
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