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

Question 20

Multiple Choice

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 marginal cost of producing this good with 3 and 4 laborers working [blanks (G) and (H) ], respectively? A) $200; $150 B) $60; $30 C) $12; $40 D) $6; $8 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 marginal cost of producing this good with 3 and 4 laborers working [blanks (G) and (H) ], respectively?


A) $200; $150
B) $60; $30
C) $12; $40
D) $6; $8
E) none of the above

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