A firm can sell fifty widgets for $5 each and fifty-two for $4.90 each. When it hires

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A firm can sell fifty widgets for $5 each and fifty-two for $4.90 each.

When it hires another worker, its output goes up from fifty to fifty-two units. The firm can hire all the workers it wants at $8.

a. Should it hire this worker?

b. If instead fifty firms were producing one widget each, would one of them hire this worker?

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Economics Barrons Business Review Series

ISBN: 9781438008776

6th Edition

Authors: Walter J. Wessels

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Question Posted: Feb 18, 2024 04:01 AM

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A firm can sell fifty widgets for $5 each and fifty-two for $4.90 each. When it hires

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a No the worker adds 480 to total ...View the full answer

Economics Barrons Business Review Series

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