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Laborers (L) Vaccine TR = (Q) PxQ- Cost of vaccine supplies Net 0 O 1 8 2 22 3 29 st 31 LO 29 6
Laborers (L) Vaccine TR = (Q) PxQ- Cost of vaccine supplies Net 0 O 1 8 2 22 3 29 st 31 LO 29 6 20 Calculate the total cost, total revenue, and finally calculate the profit or loss of the firm. Assume the sale price is $3 each and the cost of the ingredients per vaccine is $1. Suppose labour is $6 per hour. In addition, calculate marginal product per labour and average product per labour? Laborers Vaccine(Q) (dQ/dL Change in Laborers Vaccine(Q) (dQ/dL Change in (L) vaccine APL MPL) (Q/L) 0 0 1 1 8 N 22 3 29 4 31 LO 29 6 20 1 A B I iii III o@
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