Suppose the short-run production function is q=20*L. If the wage rate is $10 per unit of labor,

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Suppose the short-run production function is q=20*L. If the wage rate is $10 per unit of labor, then AVC equals___.
Suppose the short-run production function is q=40*L. If the wage rate is $10 per unit of labor, then MC equals___.

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Macroeconomics

ISBN: 978-0138014919

12th edition

Authors: Robert J Gordon

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Question Posted: Mar 22, 2018 09:34 AM

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Suppose the short-run production function is q=20*L. If the wage rate is $10 per unit of labor,

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AVC average variable cost TVC q Total variable cost q Let tot...View the full answer

Macroeconomics

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