Refer to the following:
The capital stock is fixed at 5 units, the price of capital is $60 per unit, and the price of labor is $20 per unit.
-How much does the 12th unit of output add to the firm's total variable cost?
A) $2.50
B) $4
C) $5
D) $20
E) $40
Correct Answer:
Verified
Q70: Refer to the following:
Suppose a firm is
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Q74: Refer to the following: Q75: Short-run average cost is Q76: Refer to the following: Q77: Refer to the following: Q78: Refer to the following: Q79: Refer to the following: Q80: Refer to the following:
A)always greater than long-run
A firm produces 4,000
The capital stock
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