February 22, 2017

Homework Help: Math

Posted by Randy Tan. on Tuesday, November 18, 2008 at 3:10pm.

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 firm’s output is $30. The cost of other variable inputs is $500,000 per day. Although you don’t know the firm’s fixed cost, you know that it is high enough that the firm’s total costs exceed its total revenu,show your work

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