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Assume It Takes 10 Units of Labor to Produce 4

Question 270

Multiple Choice

Assume it takes 10 units of labor to produce 4 units of output. When the price of labor is $6 per unit and fixed costs equal $60, what is the total cost of those 4 units of output?


A) $60
B) $70
C) $120
D) $84

Correct Answer:

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