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Business, 29.03.2021 17:30 ghst

Suppose that a company currently employs 1,500 workers and produces 1 million units of output per month. Labor is its only variable​ input, and the company pays each worker the same monthly wage. The​ company's current total variable costs equal ​$6 million. What are average variable costs at this​ firm's current output​ level? ​$66. ​(Your answer should have two decimal place.​) What is the average product of​ labor? 666.67666.67. ​(Your answer should be rounded to two decimal places.​) What monthly wage does the firm pay each​ worker? ​$40004000. ​(Your answer should be roudned to the nearest penny.​)

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