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2. The table below shows the number of total products produced by its corresponding number of laborers employed. Assume that each laborer receives $550 as
2. The table below shows the number of total products produced by its corresponding number of laborers employed. Assume that each laborer receives $550 as wage and the rm pays $700 rental fee for the equipment it uses. A. If the rm wants to minimize the cost per unit of production, how many units of output must it produce? B. If the product is sold for $21, should the seller still continue production? If yes, how many units of output? Justify your answer. C. At what price will the rm decide to shut-down in the short-run
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