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Following Is a Firm's Expansion Path

Question 71

Multiple Choice

Following is a firm's expansion path.The price of capital is $5 per unit; the price of labor is $2 per unit. Following is a firm's expansion path.The price of capital is $5 per unit; the price of labor is $2 per unit. When output is 20 units,what is long-run average cost? A) $2 B) $3.50 C) $4 D) $4.50 E) none of the above When output is 20 units,what is long-run average cost?


A) $2
B) $3.50
C) $4
D) $4.50
E) none of the above

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