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The Capital Stock Is Fixed at 5 Units,the Price of Capital

Question 44

Multiple Choice

The capital stock is fixed at 5 units,the price of capital is $60 per unit,and the price of labor is $20 per unit. The capital stock is fixed at 5 units,the price of capital is $60 per unit,and the price of labor is $20 per unit. Based on the above,if the firm produces 60 units of output,what is average variable cost? A) $5 B) $7.67 C) $20 D) $57.50 E) $2.67 Based on the above,if the firm produces 60 units of output,what is average variable cost?


A) $5
B) $7.67
C) $20
D) $57.50
E) $2.67

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