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April 18, 2014

Homework Help: Economics

Posted by Mona on Tuesday, January 19, 2010 at 1:20am.

Should a firm shut down its unprofitable operation. Firm uses 70,000 workers to produce 300,000 units of output per day. Daily wage is $100 p/worker dn price of firms output is $30. Other variable inputs is $500,000 p/day. Do not know the firms' fixed cost, but it is high enough that the firms total costs exceed its total revenue. I don't know how to calculate this. Please help.

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