nts per question)1a0od it produces is constant, than itNAME:NT A QUIZABC Limited sells its product in a perfectly competitive market for a price of $151.perunit and hires workers at a daily wage of $75. Labor is the only factor cost, and the firm iscurrently earning profits. If ABC hires one more worker and output increases by 5 unitsperday, the firm's profits willa. decrease by $5b. decrease by $75c. increase by $75d. increase by $15e. remain unchanged.

The correct answer to the above-mentioned question is option (e).

Answered: nts per question) 1a0od it produces is…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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400 300 200 120 100 100 a) $120 Ob) $100 Oc) $200 or less d) $300 or less LL. I I I L 220 320 400 500 580 Refer to the above Figure A. In the short-run this firm would shut-down at a price of 1 I I MC /ATC AVC
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