Use the following to answer question
-If hiring the 4th worker increases total product by 50 units and the price of each unit is $15,
A) the firm should not hire the 4th worker as MR<MC
B) marginal revenue equals $150
C) the firm should hire the 4th worker as MR>MC
D) the firm should not hire the 4th worker as MR<TC
Correct Answer:
Verified
Q1: Use the following to answer question
Q3: Use the following to answer question
Q4: In the short run,
A)Some production costs are
Q5: Use the following to answer question
Q6: If a firm produces 10 units,TC=$100.When the
Q7: If AVC=$15 and AFC=$10,then ATC=
A)$10
B)$5
C)$15
D)$25
Q8: A firm produces 500 units per week.It
Q9: Total costs increase from $1,500 to $1,800
Q10: If AVC=$5 and AFC=15,then AC=
A)$10
B)$5
C)$15
D)$20
Q11: Use the following to answer question
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