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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

On the basis of the preceding table, if the price of a factor is constant at $48, how many units of the factor will the firm buy?

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To determine

Calculate the unit of factor that a firm buys at price $48.

Explanation

A firm should purchase labor when the additional revenue earned by a firm using an additional unit of labor equals the cost incurred when additional unit of labor purchased...

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