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  3. Study Set
    Economics-Microeconomics
  4. Exam
    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 434

Question 434

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. If 95 units are produced, the average total cost is A)  $6.31. B)  $17.45. C)  $26.32. D)  $32.63.
-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. If 95 units are produced, the average total cost is


A) $6.31.
B) $17.45.
C) $26.32.
D) $32.63.

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