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Economics

A firm produces 4,000 units of output using 500 workers. Marginal cost is $10, the wage rate is $160, and total fixed cost is $100,000.

a. What is the marginal product of labor?

b. When output is 4,000 units what happens to the average variable cost and the average total cost?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91231923

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