Economics 9708 · AS & A Level · Long-run costs and economies of scale

Long-run costs and economies of scale — practice question

A firm is now employing 100 workers at a daily wage of $500 for each worker. It works out that the marginal cost per day of taking on one more worker would be $702. By how much would the daily wage per worker need to rise in order to persuade an extra worker to join?

  • A$2
  • B$70.20
  • C$202
  • D$702

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