Multiple Choice
Refer to the following:
The capital stock is fixed at 50 units, the price of capital is $30 per unit, and the price of labor is $25 per unit.
-If the firm produces 30 units of output, how many units of labor does the firm use?
A) 30
B) 45
C) 54
D) 60
E) none of the above
Correct Answer:

Verified
Correct Answer:
Verified
Q3: Fill in the blanks in the table
Q4: Refer to the following:<br><br>A firm produces 4,000
Q5: Refer to the following:<br>The amount of
Q6: Marginal cost<br>A) measures how total cost changes
Q7: Refer to the following:<br><br>"Ford built 18 vehicles
Q9: Refer to the following:<br>The following graph shows
Q10: Refer to the following:<br>The capital stock
Q11: Firm A plans to produce 500
Q12: Refer to the following:<br>The following graph shows
Q83: Short-run average cost is<br>A)always greater than long-run