-Assume labor-the only variable input of a firm-has average and marginal product curves shown in the figure above.The price of labor is $1,000 per unit .Marginal cost reaches its minimum value at ________ units of labor usage,which corresponds to ________ units of output.
A)300; 810,000
B)300; 300* 1,800
C)450; 300 * 2,700
D)500; 300 *2,700
E)none of the above

Question

-Assume labor-the only variable input of a firm-has average and marginal product curves shown in the figure above.The price of labor is $1,000 per unit .Marginal cost reaches its minimum value at ________ units of labor usage,which corresponds to ________ units of output.
A)300; 810,000 
B)300; 300* 1,800 
C)450; 300 * 2,700 
D)500; 300 *2,700 
E)none of the above

Quizplus · Accepted Answer

The Answer of 
-Assume labor-the only variable input of a firm-has average and marginal product curves shown in the figure above.The price of labor is $1,000 per unit .Marginal cost reaches its minimum value at ________ units of labor usage,which corresponds to ________ units of output.
A)300; 810,000 
B)300; 300* 1,800 
C)450; 300 * 2,700 
D)500; 300 *2,700 
E)none of the above

-Assume Labor-The Only Variable Input of a Firm-Has Average and Marginal