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Refer to the Following

Question 15

Multiple Choice

Refer to the following:

Suppose a firm is hiring 20 workers at a wage rate of $60. The average product of labor is 30, the last worker added 12 units of output, and total fixed cost is $3,600.

-What is marginal cost?


A) $.20
B) $5
C) $240
D) $720
E) none of the above

Correct Answer:

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