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Question 3 4 pts Suppose in the short run a firms marginal cost of production is MC = $10. If the wage rate is $4, what is t
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Answer #1

Ans. 3. e) 0.4

As we know that MC = W/ MPL, then

$10 = $4/ MPL

MPL = $4/$10

MPL  = 0.4

Hence, The marginal product of labor is 0.4.

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