AFC Q (workers) (units) MPL FC VC TC AVC ΑTC MC (units) (S) ($) (S) (S) (S) (S) (S) 1 90 210 3 320 4 420 5 510 590 7 660 Consider the following table illustrating the production function of gadgets. Furthermore, suppose the firm has fixed costs of $400/day and the wage rate is $200/day. What is the marginal product of labor for the 3rd worker that is employed? 90 gadgets 110 gadgets 320 gadgets none of the above

AFC Q (workers) (units) MPL FC VC TC AVC ΑTC MC (units) (S) ($) (S) (S) (S) (S) (S) 1 90 210 3 320 4 420 5 510 590 7 660 Consider the following table illustrating the production function of gadgets. Furthermore, suppose the firm has fixed costs of $400/day and the wage rate is $200/day. What is the marginal product of labor for the 3rd worker that is employed? 90 gadgets 110 gadgets 320 gadgets none of the above

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Description: Please help me fill out the following table in order to answer the question. MPLFCVCAFCATCQ(workers) (units) | (units)LTCAVCMC($)($)($)(S)(S)($)($)1902210332044205105907660Consider the following table illustrating the production function of gadgets.F

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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