KEin the table, if the marginal factor cost is $480, how many workers would be hired?OA. 6OB. 5OC. 4OD. 3Quantity ofWorkers2356Total Product1830404852Price of FinalProduct$1009080706050

Production function:Production is a function of land labor capital and entrepreneurship. It includes…

Answered: K- in the table, if the marginal factor…

K- in the table, if the marginal factor cost is 1480, how many workers would be hired? OA 6 OB. 5 OC. 4 OD. S Quantity of Workers Total Product 18 30 40 48 52 Price of Final Product $100 90 80 70 60

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

KE
in the table, if the marginal factor cost is $480, how many workers would be hired?
OA. 6
OB. 5
OC. 4
OD. 3
Quantity of
Workers
2
3
5
6
Total Product
18
30
40
48
52
Price of Final
Product
$100
90
80
70
60
50

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