The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of capital. When answering the questions, you are to assume that the wage per unit of labour is $25 and the cost of the capital is $100.
-Refer to Table 7- 4. Average fixed costs for 305 units of output is approximately
A) 33 cents.
B) 41 cents.
C) 45 cents.
D) 74 cents.
E) 82 cents.
Correct Answer:
Verified
Q103: Q104: The table below provides the annual Q105: The theory of the firm is based Q106: If Michelle used $1000 from her savings Q107: We can predict that resources will move Q109: The table below provides information on Q109: Suppose that a firm's capital is fixed
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents