Solved

Refer to the Following

Question 97

Multiple Choice

Refer to the following:
The following graph shows the marginal and average product curves for labor, the firm's only variable input. The monthly wage for labor is $2,800. Fixed cost is $160,000.
Refer to the following: The following graph shows the marginal and average product curves for labor, the firm's only variable input. The monthly wage for labor is $2,800. Fixed cost is $160,000. -When the firm uses 120 units of labor, what is its marginal cost at this output? A) $65 B) $70 C) $50 D) $56 E) $120
-When the firm uses 120 units of labor, what is its marginal cost at this output?


A) $65
B) $70
C) $50
D) $56
E) $120

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q27: production function measures the relation between<br>A)input prices

Q68: Average total cost<br>A)increases as output increases.<br>B)decreases as

Q93: Refer to the following:<br>The following graph shows

Q94: Use the following table, showing the

Q95: If marginal product is decreasing, then it

Q98: Refer to the following:<br>The amount of

Q99: Refer to the following:<br>The capital stock

Q100: Refer to the following:<br><br>"Ford built 18 vehicles

Q101: Refer to the following:<br>The following graph shows

Q102: Refer to the following:<br>The amount of