Refer to the following:

Above is a firm's average product of labor and marginal product of labor curves. The price of labor is $60 per unit.
-When the firm uses 4 units of labor, what is AVERAGE variable cost?
A) $10
B) $24
C) $124
D) $240
E) none of the above

Question

Refer to the following:

Above is a firm's average product of labor and marginal product of labor curves. The price of labor is $60 per unit.
-When the firm uses 4 units of labor, what is AVERAGE variable cost?
A) $10 
B) $24 
C) $124 
D) $240 
E) none of the above

Quizplus · Accepted Answer

The Answer of Refer to the following:

Above is a firm's average product of labor and marginal product of labor curves. The price of labor is $60 per unit.
-When the firm uses 4 units of labor, what is AVERAGE variable cost?
A) $10 
B) $24 
C) $124 
D) $240 
E) none of the above

Refer to the Following