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April 20, 2014

Homework Help: Economics

Posted by Vision on Tuesday, November 18, 2008 at 2:28pm.

The firm currently uses 70,000 workers to produce 300,000 units of output per day. The daily wage (per worker) is $100, and the price of the firmís output is $30. The cost of other variable inputs is $500,000 per day. Although you donít know the firmís fixed cost, you know that it is high enough that the firmís total costs exceed its total revenu,show your work

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