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-Assume Labor-The Only Variable Input of a Firm-Has Average and Marginal

Question 31

Multiple Choice

-Assume labor-the only variable input of a firm-has average and marginal product curves shown in the figure above.The price of labor is $1,000 per unit .At its minimum value,average variable cost is $__________. A) $1,000/2,025 B) $1,000/1,925 C) $1,000/1,800 D) $1,000/825 E) none of the above
-Assume labor-the only variable input of a firm-has average and marginal product curves shown in the figure above.The price of labor is $1,000 per unit .At its minimum value,average variable cost is $__________.


A) $1,000/2,025
B) $1,000/1,925
C) $1,000/1,800
D) $1,000/825
E) none of the above

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