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    Exam 11: Output and Costs
  5. Question
    -The Table Above Gives a Firm's Total Product Schedule
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-The Table Above Gives a Firm's Total Product Schedule

Question 133

Question 133

Multiple Choice

  -The table above gives a firm's total product schedule. Suppose labor is the only variable factor of production. The price of labor is $500 per week and total fixed costs are $600 per week. What is the total cost of producing 70 units? A)  $1,700 B)  $1,900 C)  $2,100 D)  $2,300
-The table above gives a firm's total product schedule. Suppose labor is the only variable factor of production. The price of labor is $500 per week and total fixed costs are $600 per week. What is the total cost of producing 70 units?


A) $1,700
B) $1,900
C) $2,100
D) $2,300

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