Provide a report to management of the firm as to whether or, Ask an Expert

Economics

The firm currently uses 70,000 workers to produce 300,000 units of output per day. The daily wage (per worker) is $100, and the price of the firm's output is $30. The cost of other variable inputs is $500,000 per day. Although you don't know the firm's fixed cost, you know that it is high enough that the firm's total costs exceed its total revenue.

Provide a report to management of the firm as to whether or not it should continue to operate at a loss?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9162805

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