Multiple Choice
The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital.Assume that the wage per unit of labour is $10 and the cost of the capital is $50.
TABLE 7-3
-Refer to Table 7-3.At what level of output does average total cost reach a minimum?
A) 30
B) 90
C) 132
D) 150
E) ATC declines continuously over the range of output shown.
Correct Answer:

Verified
Correct Answer:
Verified
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