Multiple Choice
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.
-If the firm produces 80 units of output, what is its total cost of production?
A) $540
B) $1,600
C) $1,900
D) $5,040
E) none of the above
Correct Answer:

Verified
Correct Answer:
Verified
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