Suppose the short-run production function is q = 10 * L. If the wage rate is $10 per unit of labor, then MC equals
A) q.
B) q/10.
C) 10/q.
D) 1.
Answer: 1.
Suppose the short-run production function is q = 10 * L. If the wage rate is $10 per unit of labor, then MC equals
A) q.
B) q/10.
C) 10/q.
D) 1.
Answer: 1.