Suppose that a firm has only one variable input labor and, Business Economics

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Suppose that a firm has only one variable input labor and

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 the firm produces 90 units of output. Fixed costs 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 marginal cost of production when the firm hires the 7th worker?

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Business Economics: Suppose that a firm has only one variable input labor and

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Business Economics: Suppose that a firm has only one variable input labor and

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