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Consider the following production and cost schedule for a firm. The first column shows the number of ...

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Consider the following production and cost schedule for a firm. The first column shows the number of ...

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 Factor	Total Number of Units of Output	Price per Unit of Output
10	20	$10
11	44	$10
12	64	$10
13	78	$10
14	84	$10
15	86	$10

TABLE 13-1

Refer to Table 13-1. How many units of this factor of production would the profit-maximizing firm hire if the price of each unit of the factor was $200?

▸ 13

▸ 10

▸ 12

▸ 11

▸ It is not possible to determine with the data given.

Textbook

Microeconomics

Edition: 17^th

Author: Ragan

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