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Author Question: Refer to Table 17-1. Suppose the output price is 3. If the wage rate is 90, what is the ... (Read 88 times)

anshika

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Refer to Table 17-1. Suppose the output price is 3. If the wage rate is 90, what is the profit-maximizing quantity of labor that the firm should hire?
 
  A) 7 units B) 5 units C) 4 units D) 3 units

Question 2

If the total cost of producing 20 units of output is 1,000 and the average variable cost is 35, what is the firm's average fixed cost at that level of output?
 
  A) 65
  B) 50
  C) 15
  D) It is impossible to determine without additional information.


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peter

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anshika

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)


juliaf

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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