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24. Chapter ma2pe09r, Section .13, Problem 056 (ID: 056.13.MANK09) Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that the average tota cost when 5 units of output are produced is $30, and the marginal cost of the sixth unit of output is $60. What is the average total cost when six units are produced? Oa. $10 Ob. $35 Oc. $25 Od. $30

24. Chapter ma2pe09r, Section .13, Problem 056 (ID: 056.13.MANK09) Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that the average tota cost when 5 units of output are produced is $30, and the marginal cost of the sixth unit of output is $60. What is the average total cost when six units are produced? Oa. $10 Ob. $35 Oc. $25 Od. $30

Microeconomics A Contemporary Intro
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 18PAE
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24. Chapter ma2pe09r, Section .13, Problem 056 (ID: 056.13.MANK09) Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that the average total cost when 5 units of output are produced is $30, and the marginal cost of the sixth unit of output is $60. What is the average total cost when six units are produced? Oa. $10 Ob. $35 Oc. $25 Od. $30
Transcribed Image Text:24. Chapter ma2pe09r, Section .13, Problem 056 (ID: 056.13.MANK09) Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that the average total cost when 5 units of output are produced is $30, and the marginal cost of the sixth unit of output is $60. What is the average total cost when six units are produced? Oa. $10 Ob. $35 Oc. $25 Od. $30
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