What are three contingent environmental resource evaluation

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Reference no: EM1320563

Q1. Assume that for a particular industry the only variable input into the production process is labor also that output equals zero when no workers are hired. In addition, Assume that marginal cost of the third worker hired is $40 also the average total cost when three workers are hired is $50. Illustrate what is the total cost of production when three workers are hired?

Q2. Illustrate what are the three contingent environmental resource evaluation methods also Illustrate what is their significance?

Reference no: EM1320563

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