1. A firm produces 450 units production by using capital and labor in a day and sell it at $0.65/unit. If thefirm's MPPL is 35Vx², what is the amount of production after 22 units labors employed and total revenue?

Q= 450 units Price = $0.65/unit MPL = 35 (x) 2/5 Labor units = 22

Answered: 1. A firm produces 450 units production…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 32CTQ: How does fixed cost affect marginal cost? Why is this relationship important?

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1. A firm produces 450 units production by using capital and labor in a day and sell it at $0.65/unit. If the firm's MPPL is 35Vx², what is the amount of production after 22 units labors employed and total revenue?