Units of Labor Total Product Marginal Product Total Revenue 0 0 1 14 14 $ 112 2 10 3 30 240 4 35 5 39 6 7 44 312 336 2 352 If the wage rate is $40 and Manfred's only fixed input is capital, the total cost of which is $35, then what will be his economic profit? Multiple Choice О 85 О O 12 112 120

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Units of
Labor
Total
Product
Marginal
Product
Total
Revenue
0
0
1
14
14
$ 112
2
10
3
30
240
4
35
5
39
6
7
44
312
336
2
352
If the wage rate is $40 and Manfred's only fixed input is capital, the total cost of which is $35, then what will be his economic profit?
Multiple Choice
О
85
О
O
12
112
120
Transcribed Image Text:Units of Labor Total Product Marginal Product Total Revenue 0 0 1 14 14 $ 112 2 10 3 30 240 4 35 5 39 6 7 44 312 336 2 352 If the wage rate is $40 and Manfred's only fixed input is capital, the total cost of which is $35, then what will be his economic profit? Multiple Choice О 85 О O 12 112 120
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