What is the Marginal Cost (MC) for the 40th unit of output? Quantity of Labor Total Output Fixed Cost 0 0 3.33 -5 5 2 3 4 0 16 40 60 72 80 84 $160 Variable Cost . $80 $160 $240 $320 $400 $480 Total Cost

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter14: Labor Markets And Income
Section: Chapter Questions
Problem 23RQ: What is the marginal cost of labor?
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What is the Marginal Cost (MC) for the 40th unit of output?
Quantity of Labor Total Output
0
1
2
0
3.33
-5
5
3
4
56
6-
0
16
40
60
72
80
84
Fixed Cost
$160
Variable Cost
.
$80
$160
$240
$320
$400
$480
Total Cost
Transcribed Image Text:What is the Marginal Cost (MC) for the 40th unit of output? Quantity of Labor Total Output 0 1 2 0 3.33 -5 5 3 4 56 6- 0 16 40 60 72 80 84 Fixed Cost $160 Variable Cost . $80 $160 $240 $320 $400 $480 Total Cost
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