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Suppose that a firm is currently employing 10 workers, the only variable input, at a wage rate of $100. The average physical product of labor is 25, the last worker added 10 units to total output, and total fixed cost is $5,000
a. What is marginal cost?
b. What is average variable cost?
c. How much output is being produced?
d. What is the average total cost?
e. Is average variable cost increasing, constant, or decreasing?
What can you determine about consumer demand for your product from this information.
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Microsoft appears to have a monopoly with over 90 %of the personal computer operating market. Why then would it not be charging a monopoly price
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Illustrate what are the Joseph's demands for roses also tulips as a function of prices also income.
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