A competitive firm produces 420units of output per day and hires 10 workers at a cost of $450per day per worker. The price of the output is $17per unit. The firm pays a daily rental rate of $1,000on their building. They have a three-year lease on the building and have no other expenses.<\/p>
a.What is the firm's fixed cost?______________<\/p>
b.What is the firm's marginal revenue?____________<\/p>
c.What is the firm's profit?______________<\/p>
d.What is the firm's variable cost?_____________<\/p>
e.What is the firm's average total cost?______________<\/p>", "transcribed_text": "", "related_book": { "title": "International Marketing And Export Management", "isbn": "1292016922, 978-1292016924", "edition": "8th Edition", "authors": "Gerald Albaum , Alexander Josiassen , Edwin Duerr", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/652ce9c2c4de0_70261.jpg", "uri": "\/textbooks\/international-marketing-and-export-management-8th-edition-9781292016924", "see_more_uri": "" }, "free_related_book": { "isbn": "0534947581", "uri": "\/textbooks\/arithmetic-and-algebra-4th-edition-9780534947583", "name": "Arithmetic And Algebra", "edition": "4th Edition" }, "question_posted": "2024-06-12 15:11:21", "see_more_questions_link": "\/study-help\/questions\/business-accounting-2024-September-21", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/assume-a-substance-has-uniform-properties-in-all-directions-with", "description": "Assume a substance has uniform properties in all directions with V = LxLyLz and show that volume expansivity p = 3T. 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