Exhibit 28-7

-Refer to Exhibit 28-7.The marginal factor cost of increasing employment from 20 to 30 workers

Name: Exhibit 28-7 -Refer to Exhibit 28-7.The marginal factor cost of increasing employment from 20 to 30 workers
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Question

Exhibit 28-7
 
-Refer to Exhibit 28-7.The marginal factor cost of increasing employment from 20 to 30 workers

Quizplus · Accepted Answer

The marginal factor cost (MFC) is the additional cost of hiring one more worker. If the cost of increasing employment from 20 to 30 workers is given as $140, then the MFC per worker is $140/10 workers = $14 per worker.

Exhibit 28-7 -Refer to Exhibit 28-7.The Marginal Factor Cost of Increasing Employment