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Author Question: Consider the following production and cost schedule for a firm. The first column shows the number of ... (Read 120 times)

camac77

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on: Oct 12, 2022

Question 1

Consider labour that is hired for $18 per hour. If the last hour of labour hired produces 8 units of output which sells for $10 per unit, that labour-hour adds ________ to the firm's profit and so ________ labour should be hired.
◦ $0; no
◦ $80; more
◦ $62; less
◦ -$80; less
◦ $62; more

Question 2

Consider the following production and cost schedule for a firm. The first column shows the number of units of a variable factor of production employed by the firm.



TABLE 13-5

Refer to Table 13-5. If this firm is perfectly competitive, total revenue (TR) generated by hiring the 12th unit of the factor of production is


◦ $20.
◦ $40.
◦ $120.
◦ $1280.
◦ $1540.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by camac77 on Oct 12, 2022

delmiss

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Reply #1 on: Oct 12, 2022
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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camac77

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

alexanderhamilton

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

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