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Exhibit 21-14 Assume That Labor Is the Only Variable Input

Question 206

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Exhibit 21-14
Exhibit 21-14 Assume that labor is the only variable input and that each additional laborer is paid $600. -Refer to Exhibit 21-14. What is the level of output with 2 and 3 laborers working [blanks (A) and (B) ], respectively? A) 175 units; 225 units B) 100 units; 175 units C) 100 units; 225 units D) 50 units; 175 units E) none of the above Assume that labor is the only variable input and that each additional laborer is paid $600.
-Refer to Exhibit 21-14. What is the level of output with 2 and 3 laborers working [blanks (A) and (B) ], respectively?


A) 175 units; 225 units
B) 100 units; 175 units
C) 100 units; 225 units
D) 50 units; 175 units
E) none of the above

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