Multiple Choice
In order to produce the desired quantity, the firm needs to hire 50 employees and rent 10 units of capital. If the wage rate is $100 per employee and the rental rate is $200 per unit, what is the total cost of producing the desired quantity?
A) $3,000
B) $5,000
C) $7,000
D) $9,000
Correct Answer:
Verified
Correct Answer:
Verified
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