Use the following to answer questions 11-16:
-If the firm hires 5 workers,the average cost equals
A) $250
B) $50
C) $5
D) Need more information
Correct Answer:
Verified
Q22: Marginal cost is the _ cost of
Q23: A firm is thinking of hiring an
Q24: Use the following to answer questions 11-16:
Q26: Marginal revenue
A)Is the additional revenue incurred by
Q28: Which is not a fixed cost?
A)monthly rent
Q30: Use the following to answer questions 11-16:
Q31: A firm is thinking of hiring an
Q32: When economists speak of "marginal",they mean
A)Opportunity
B)Scarcity
C)Incremental
D)Unimportant
Q32: Use the following table to answer questions
Q57: Use the following table to answer question
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