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18-09-2022
Business

Answered

a). What is the marginal cost of hiring the 4th worker?

b). If the firm hires 5 workers, what is the total fixed cost?

c). If hiring the 7th worker increases total product by 5 units and the price of each unit is $2, would the firm hire the 7th worker? Why?

d). If hiring the 6th worker increases total product by 7 units and the price of each unit is $2, would the firm hire the 6th worker? Why?

e). If the firm hires 5 workers, and produces 10 units, what is the average cost?

a What is the marginal cost of hiring the 4th worker b If the firm hires 5 workers what is the total fixed cost c If hiring the 7th worker increases total produ class=

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