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Author Question: For a perfectly competitive firm, at the profit-maximizing output average revenue equals marginal ... (Read 181 times)

cnetterville

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For a perfectly competitive firm, at the profit-maximizing output average revenue equals marginal cost.
 
  Indicate whether the statement is true or false

Question 2

Sam Lewis owns a firm in New York City's garment district. If Sam keeps adding workers to use the same number of sewing machines, eventually the workplace will become so crowded that workers will get in each other's way. At this point
 
  A) Sam should begin using a division of labor in his business.
  B) Sam's business will be in violation of safety rules that have been established by the New York City government.
  C) the marginal product of labor in Sam's business would be negative and his total output would decrease.
  D) Sam should encourage his workers to share their sewing machines.


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zoeyesther

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