Multiple Choice
Only two resources, capital and labor, are used in an economy to produce an output of 600 million units. If the total cost of capital resources is $300 million and the total cost of labor resources is
$100 million, then the per-unit production costs in this economy are
A) $0.67.
B) $1.50.
C) $2.00.
D) $3.00.
Correct Answer:
Verified
Correct Answer:
Verified
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