Multiple Choice
Refer to the following:
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.
-What is the marginal product of labor?
A) $8 per worker
B) 8 units of output per worker
C) $16 per worker
D) 16 units of output per worker
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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