Suppose your business is currently employing 750 workers, Ask an Expert

Economics

Suppose your business is currently employing 750 workers, the only variable input, at a wage rate of $48. The average product of labor is 96, the last worker added 6 units to total output, and total fixed cost is $12,000.

A) What is Marginal Cost?

B) What is Average Variable Cost?

C) How much output is being produced?

D) What is the Average Total Cost?

E) Is the Average Variable Cost increasing, constant, or decresing? What about Average Total Cost?

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Business Economics, Economics

Category:- Business Economics
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