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The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital. Assume the
The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital. Assume the wage per unit of labour is $10 and the cost of the capital is $50.
Labour per period Total output per period
0 0
1 10
2 30
3 90
4 132
5 150
TABLE 7-3
Refer to Table 7-3. If this firm is producing 111 units of output per period, its marginal cost is
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