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Author Question: You have been hired by a data processing firm to provide economic advice. The owner of the firm ... (Read 57 times)

ishan

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on: Apr 19, 2019

You have been hired by a data processing firm to provide economic advice. The owner of the firm tells you that the firm's only variable input is the number of data-entry operators. The hourly wage for data-entry operators is $15.00. The marginal revenue product curve for data-entry operators reaches its maximum at three workers with a marginal revenue product of $12.00. What advice would you give this firm?


◦ Hire three data-entry operators so as to minimize the amount of money the firm will lose.
◦ Shut down immediately, as the firm is not able to cover all of its variable costs.
◦ Increase the wage rate paid to data-entry operators so that their marginal revenue product will increase.
◦ Produce as much as possible so as to maximize the difference between the wage paid to data-entry operators and their marginal revenue product.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by ishan on Apr 19, 2019

komodo7

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ishan

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Reply #2 on: Apr 19, 2019
Thank you!


komodo7

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Reply #3 on: Apr 19, 2019
Always glad to help...


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