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Assume capital (equipment) is fixed, and labor is the only variable input. Assume the wage is $200 per worker per day, you are employing 4 workers and AP with 4 workers is 80, and AP when you only had 3 workers was 90.
1- What is the marginal cost when you are using 4 workers? ( please explain to rate you)
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The prices that people are willing to pay for goods and services mostly depend on:
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