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pls see attach Consider the following table which describes how a rm uses variable labour input to produce output in the short- run. Suppose each
pls see attach
Consider the following table which describes how a rm uses variable labour input to produce output in the short- run. Suppose each worker is paid $90 and each piece of capital is rented for $41. The rms is currently using 2 units of capital. It you would nd it helpful to ll out the table by hand, you can download the PDF linked below, which includes additional empty columns for you to use when computing your answers. Round answers to two decimal places, it necessary. Hint: it is not required for you to complete every blanlr or even every column to answer the questions below! Recall what the TAS covered with you in tutorials. Part (a): What level of output should the rm produce at if their goal is to minimize their average variable cost? Part (b): Which level of output should the rm produce at if their goal is to minimize their marginal cost? Part (c): What level of output should the rm produce at if their goal is to minimize their average total costStep by Step Solution
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