A firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm’s output is $25. The cost of other variable inputs is $400,000 per day.
Assume that total fixed cost equals $1,000,000. Calculate the values for the following four formulas:
Complete the following:
Provide a report to management of the firm that discusses what should be done.
Be sure to show your work to support the decision you outline in your report.
Please submit your assignment.
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