Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm. TABLE 13- 1
-Refer to Table 13- 1.How many units of this factor of production would the profit- maximizing firm hire if the price of each unit of the factor was $140?
A) 13
B) 11
C) 12
D) 14
E) It is not possible to determine with the data given.
Correct Answer:
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