For the next two questions, consider the following table for a profit-max, perfe

Question

For the next two questions, consider the following table for a profit-max, perfectly competitive firm that produces using only labor and capital. You can calculate the values for the table cells with letters in them (though you won't enter all these values on the exam).

Calculate the value for Cell C, total cost with 26 units of labor employed, carefully following all numeric instructions.

Explanation / Answer

the value for Cell C, total cost with 26 units of labor employed = Labor cost + Capital Cost = $2600 + $3600 = $6200

So it's $6200

If you don't understand anything then comment ,I'ill revert back on the same . :)

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