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Home Q & A Board Other Fields Homework Help Business Economics
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nevermind11111 nevermind11111
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A year ago
Consider the following production and cost schedule for a firm. The first column shows the number of units of a variable factor of production employed by the firm.

Total Number of Units of the FactorTotal Number of Units of OutputPrice per Unit
of Output		Total Cost
of Production
212$10$50
320 $9$55
426 $8$60
530 $7$65
632 $6$70
732 $5$75

TABLE 13-3

Refer to Table 13-3. The total revenue earned by the firm if the 7th unit of the factor of production is hired is

▸ $202.

▸ $192.

▸ $160.

▸ $210.

▸ $180.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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Aldrich E.Aldrich E.
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A year ago
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nevermind11111 Author
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Helped a lot
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Thank you, thank you, thank you!
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You make an excellent tutor!
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