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Suppose the Short-Run Production Function Is Q = L⁰

Question 65

Multiple Choice

Suppose the short-run production function is q = L⁰.⁵.If the marginal cost of producing the tenth unit is $5,what is the wage per unit of labor?

A) $1
B) 5¢
C) 25¢
D) It cannot be determined without more information.

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