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-Assume Labor-The Only Variable Input of a Firm-Has Average and Marginal

Question 2

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-Assume labor-the only variable input of a firm-has average and marginal product curves shown in the figure above.The price of labor is $1,000 per unit .Marginal cost reaches its minimum value at ________ units of labor usage,which corresponds to ________ units of output. A) 300; 810,000 B) 300; 300* 1,800 C) 450; 300 * 2,700 D) 500; 300 *2,700 E) none of the above
-Assume labor-the only variable input of a firm-has average and marginal product curves shown in the figure above.The price of labor is $1,000 per unit .Marginal cost reaches its minimum value at ________ units of labor usage,which corresponds to ________ units of output.


A) 300; 810,000
B) 300; 300* 1,800
C) 450; 300 * 2,700
D) 500; 300 *2,700
E) none of the above

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