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Andrew [12]
3 years ago
6

Austin's total fixed cost is $3,600. Austin employs 20 workers and pays each worker $60. The average product of labor is 30, and

the marginal product of the twentieth worker is 12. What is the marginal cost of the last unit produced by the last worker Austin hired? a $60 b $720 c $240 d $0.20 e $5
Business
1 answer:
Lorico [155]3 years ago
6 0

Answer:

$5

Explanation:

The marginal cost is the increase or decrase in total production cost if output is increased by one more unit.  The formula to obtain the marginal cost is change in costs/change in quantify.

MC= ´TC/ ´Q

Where:

´=Change

TC= Total cost

Q= quantity

If the price you charge per unit is greater than the marginal cost of producing one more unit, then you should produce that unit

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Answer:

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Hope that helps.

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Roger is engaging in HR planning. He is trying to predict what human resources will be needed in the coming year in his organiza
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5 0
3 years ago
Read 2 more answers
For an economy starting at potential output, a decrease in planned investment in the short run results in a(n):
Kruka [31]

Question:

For an economy starting at potential output, a decrease in autonomous expenditure in the short-run results in a(n):

A. increase in potential output

B. recessionary output gap

C. decrease in potential output

D.  expansionary output gap

Answer:

The correct answer is B

Explanation:

A decrease in autonomous expenditure shifts the Planned Aggregate Expenditure curve downward thus creating a lower equilibrium output.

PAE = C + Ip + G + NX

where

PAE  = Planned Aggregate Expenditure

C = consumption

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G = Government Spending

NX =  Net Export

If an economy has its output equal to its potential, this will create a reduction in short-run equilibrium output leading to a recessionary output gap.

Cheers!

6 0
3 years ago
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