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  • Managerial Economics and Business Strategy, 4e

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    Đặng Công Danh
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    According to the information in Table 5-3, the rule for maximizing profits is to hire five units of labor and produce 90 units of output. With fixed costs of $50, variable costs of $250, and revenues of $450, the maximum profits would be $450 - $300 = $150.

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    According to the information in Table 5-3, the rule for maximizing profits is to hire five units of labor and produce 90 units of output. With fixed costs of $50, variable costs of $250, and revenues of $450, the maximum profits would be $450 - $300 = $150.

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    Managerial Economics and Business Strategy, 4e

    Caricato da

    Đặng Công Danh
    According to the information in Table 5-3, the rule for maximizing profits is to hire five units of labor and produce 90 units of output. With fixed costs of $50, variable costs of $250, and revenues of $450, the maximum profits would be $450 - $300 = $150.

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    di 1

    Table 5-3 provides some useful information for making your decision.

    According tothe
    VMP L = w
    rule, you should hire five units of labor and produce 90 units of outputto
    maximize profits. Your fixed costs are ($10)(5) = $50, your variable costs
    are($50)(5) =$250, and your revenues are ($5)(90) = $450. Thus, your
    maximum profitsare $450 - $300 = $150

    Managerial Economics and Business Strategy, 4e Page 1

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