The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of capital.When answering the questions,you are to assume that the wage per unit of labour is $25 and the cost of the capital is $100.
TABLE 7-4
-Refer to Table 7-4.The average total cost for 250 units of output is approximately
A)33 cents.
B)40 cents.
C)63 cents.
D)80 cents.
E)$1.00.

Question

The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of capital.When answering the questions,you are to assume that the wage per unit of labour is $25 and the cost of the capital is $100.
  TABLE 7-4
-Refer to Table 7-4.The average total cost for 250 units of output is approximately
A)33 cents. 
B)40 cents. 
C)63 cents. 
D)80 cents. 
E)$1.00.

Quizplus · Accepted Answer

The Answer of The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of capital.When answering the questions,you are to assume that the wage per unit of labour is $25 and the cost of the capital is $100.
  TABLE 7-4
-Refer to Table 7-4.The average total cost for 250 units of output is approximately
A)33 cents. 
B)40 cents. 
C)63 cents. 
D)80 cents. 
E)$1.00.

The Following Data Show the Total Output for a Firm