Compute bigbiz-s marginal factor cost


BigBiz, a local monopsonist, currently hires 50 workers and pays them $6 per hour. To attract an additional worker to its labor force, BigBiz would have to raise the wage rate to $6.25 per hour. What is BigBiz's marginal factor cost?

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Microeconomics: Compute bigbiz-s marginal factor cost
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