Multiple Choice
Exhibit 21-14
![Exhibit 21-14 Assume that labor is the only variable input and that each additional laborer is paid $600. -Refer to Exhibit 21-14. What is the marginal cost of producing this good with 1 and 2 laborers working [blanks (E) and (F) ], respectively? A) $600; $300 B) $60; $30 C) $8; $12 D) $6; $8 E) none of the above](https://d2lvgg3v3hfg70.cloudfront.net/TB6992/11eb1775_c293_072e_95b8_9bbfbaa0c1c1_TB6992_00.jpg)
Assume that labor is the only variable input and that each additional laborer is paid $600.
-Refer to Exhibit 21-14. What is the marginal cost of producing this good with 1 and 2 laborers working [blanks (E) and (F) ], respectively?
A) $600; $300
B) $60; $30
C) $8; $12
D) $6; $8
E) none of the above
Correct Answer:
Verified
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