Multiple Choice
The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital. Assume that the wage per unit of labour is $10 and the cost of the capital is $50.
-Refer to Table 7- 3. The average total cost for 150 units of output is approximately
A) 40 cents.
B) 67 cents.
C) $1.50.
D) 80 cents.
E) 33 cents.
Correct Answer:

Verified
Correct Answer:
Verified
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