Question
Question 11 The data in the table is for a firm in which labor is the only variable cost and each unit of labor costs
Question 11
The data in the table is for a firm in which labor is the only variable cost and each unit of labor costs the same regardless of how many units are bought.
| Unit of Labor | TP | MP | AP | TVC | MC | AVC |
| 0 | 0 | / | / | 0 | / | / |
| 1 | 8 | 8 | 8 | 100 | ||
| 2 | 20 | |||||
| 3 | 45 | 25 | ||||
| 4 | 30 | 18.8 | ||||
| 5 | 20 | |||||
| 6 | 120 | 20 | ||||
| 7 | 10 | 18.6 | ||||
| 8 | 135 |
What is the value of TVC if 7 units of labor are used?
What is the value of MC if 5 units of labor are used?
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How The Old World Ended The Anglo-Dutch-American Revolution 1500-1800
Authors: Jonathan Scott
1st Edition
0300249365, 9780300249361
