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Basic Question 21 of 29
Suppose that an additional unit of output would require 5 additional hours of labor and 7 additional units of materials. If the wage is $15 per hour and the price of materials is $2 per unit, what is the marginal cost of production?
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Learning Outcome Statements
determine and interpret break even and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition
CFA® 2024 Level I Curriculum, Volume 1, Module 1.