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damaskus [11]
3 years ago
14

If labor is the only variable input and it costs $15 per hour and if the marginal product of labor is 3 units per hour, the shor

t-run marginal cost of 1 unit of output is approximately $0.20 Answer A: $0.20 A $3.00 Answer B: $3.00 B $5.00 Answer C: $5.00 C $15.00 Answer D: $15.00 D $45.00
Business
1 answer:
slamgirl [31]3 years ago
5 0

Based on the information given  the short-run marginal cost of 1 unit of output is approximately $5.00.

Using this formula

Marginal cost=Change in cost/Change in quantity

Where:

Change in cost=$15 per hour

Change in quantity=3 units per hour

Let plug in the formula

Marginal cost=$15/3

Marginal cost=$5.00

Inconclusion  the short-run marginal cost of 1 unit of output is approximately $5.00.

Learn more here:<em>brainly.com/question/16043702</em>

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A corporation has a $500,000 beginning balance in retained earnings. its net income for the year was $200,000. sales revenue amo
natta225 [31]
Given:
<span>$500,000 beg. balance in retained earnings.
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Retained Earnings, beg. balance            500,000
Add: Net Income for the year               <u>   200,000</u>
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