Determine the cost of production of workday output, Microeconomics

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Determine the cost of production of workday output

A worker in 1 hour produce a product, using means of production at $80 and creating new value at $20; productivity of his labor has increased 2 times. Determine the cost of production of 8hrs workday output and a unit of product before and after the increase in labor productivity?

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Microeconomics: Determine the cost of production of workday output

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Microeconomics: Determine the cost of production of workday output

Reference No:- TGS051704

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Determine earnings per share of common stock

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Ask an Expert for Answer!!

Microeconomics: Determine the cost of production of workday output

Reference No:- TGS051704

Recent Questions Asked Microeconomics

Q : Determine earnings per share of common stock

Q : Estimating default risk premium on corporate bond

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