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Business, 13.06.2020 21:57 melisa18

A firm produces children's bicycles in the short run using two inputs, capital and labor. The quantity of capital is fixed and generates a monthly cost of $6,000. The quantity of labor can be varied, and the wage rate per hour of labor is $20. If 400 hours of labor are hired for the month, and 140 bicycles units of output are produced, what is the firm's average total cost for the month

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A firm produces children's bicycles in the short run using two inputs, capital and labor. The quanti...
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