Tuesday
July 22, 2014

Homework Help: Math/Economics

Posted by Bill on Tuesday, October 18, 2011 at 9:23pm.

Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. When the firm hires 6 workers it produces 90 units of output. Fixed cost of production are $6 and the variable cost per unit of labor is $10. The marginal product of the seventh unit of labor is 4. Given this information, what is the total cost of production when the firm hires 7 workers?

$66, $76, $906, $946

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Math/Economics - Suppose that a firm has only one variable input, labor, and ...
lavin - A firm has the following short-run production function: Q = 100L + 10L2...
Economic - Suppose that labor is the only input used by a perfectly competitive ...
College microeconomics - Need some help with these questions....Thanks in ...
managerial eccon - Suppose that a firm is currently employing 30 workers, the ...
Managerial Economics - Suppose that a firm is currently employing 10 workers, ...
economics - Suppose that for the firm below, the goods market is perfectly ...
Economics - Suppose that a firm is currently employing 30 workers, the only ...
Economics - Suppose that a firm is currently employing 30 workers, the only ...
Economics - A monopoly produces widgets at a marginal cost of $8 per unit and ...

Search
Members