Exhibit 21-14 Assume That Labor Is the Only Variable Input

question 70

Multiple Choice

Exhibit 21-14
Assume that labor is the only variable input and that each additional laborer is paid $600.
-Refer to Exhibit 21-14. What is the marginal cost of producing this good with 1 and 2 laborers working [blanks (E) and (F) ], respectively?

• A)$600; $300
• B)$60; $30
• C)$8; $12
• D)$6; $8
• E)none of the above

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Fourteenth Amendment

An amendment to the U.S. Constitution, guaranteeing equal protection under the law, and was instrumental in establishing civil rights.

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