|
20. Since changes in Fixed Costs don't affect marginal costs the answer is the same as in the previous question for the same reason.
The firm must hire a 6th worker to obtain the 52nd unit of output. Since it must pay these workers $20 per hour and since the 6th worker adds 5 units of output (the MP column) the approximate marginal cost of the units added to production by that worker, including the 52nd unit is $20/5 = $4.
|
| Workers | Output |
MP |
| 1 | 10 |
10 |
| 2 | 22 |
12 |
| 3 | 31 |
9 |
| 4 | 40 |
9 |
| 5 | 47 |
7 |
| 6 | 52 |
5 |
| 7 | 56 |
4 |
| 8 | 59 |
3 |
| 9 | 61 |
2 |
| 10 | 62 |
1 |
|
