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See attached for questions pertaining to finance. I am needing help answering the attached two questions. For Questions 4-5, use the table below and assume
See attached for questions pertaining to finance. I am needing help answering the attached two questions.
For Questions 4-5, use the table below and assume the following are true: - The only variable input is labor while the amount of capital used is fixed and its cost shown in table as fixed cost Variable cost only comes from labor with cost per unit shown in table All output can be sold at prices shown in table 4. What is the value of marginal cost when labor input is 5? a. $3.50 b. $3.75 c. $5 d. $7.50 e. $15 5. What is the value of average total cost when labor input is 2? a. $10 b. $12 c. $17.5 d. $30 e. $45Step by Step Solution
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