1. Under perfect competition, what will a firm least likely earn in the long run?
4. The Production Manager of a manufacturing company has gathered the following information:
Labor (L) | Total Product (TP) |
0 | 0 |
1 | 175 |
3 | 450 |
5 | 600 |
7 | 675 |
9 | 700 |
5. The Production Manager of a manufacturing company has gathered the following information:
Labor (L) | Total Product (TP) |
0 | 0 |
1 | 175 |
3 | 450 |
5 | 600 |
7 | 675 |
9 | 700 |