Question
For production you need one bench, it is rented for 500 dollars. You also can buy as much labor as you want for 4 dollars
For production you need one bench, it is rented for 500 dollars. You also can buy as much labor as you want for 4 dollars per hour. The table below shows the marginal cost of producing different quantities of output
| Q | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| MC | $9 | $7 | $8 | $13 | $16 | $21 | $25 | $27 |
If you produce 2 units, what are your total costs?
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Business Its Legal Ethical and Global Environment
Authors: Marianne M. Jennings
11th edition
1337103578, 978-1337514392, 133751439X, 978-0357690130, 978-1337103572
