Fixed costs are $1000. The wage rate is $100 per worker. At your current level of...
Fixed costs are $1000. The wage rate is $100 per worker. At your current level of output, the MPL is 45 units of output. What is the marginal cost of an additional unit of output? Enter a number only, round to two decimal places no $ sign.
Homework Answers
Answer
the marginal cost is a cost of an extra one unit of output but the one extra unit is produced by one variable input which is paid a fixed wage so the marginal cost is:
Marginal cost =wage /MPL
=100/45
=2.22222222
=2.22
the marginal cost is $2.22
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