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Labor Total Output
1 30
2 50
3 60
4 75
5 80

a) If the price of the firm’s output is $12 per unit and the wage rate is $100 per worker, how many workers should the firm choose to hire?
b) If the price of the firm’s output falls to $8 per unit,how many workers should the firm hire?
c) Below what price would this firm choose to hire zero workers?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9511131

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