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Suppose that a company currently employs 2,000 workers and produces 4 million units of output per month. Labor is its only variable input, and
Suppose that a company currently employs 2,000 workers and produces 4 million units of output per month. Labor is its only variable input, and the company pays each worker the same monthly wage. The company's current total variable costs equal $3 million. What are average variable costs at this firm's current output level? $ (Your answer should have two decimal place.)
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