The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital.Assume that the wage per unit of labour is $10 and the cost of the capital is $50.
TABLE 7-3
-Refer to Table 7-3.If this firm is producing 111 units of output per period,its marginal cost is
A)$1.00.
B)16.7 cents.
C)76 cents.
D)24 cents.
E)38 cents.

Question

The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital.Assume that the wage per unit of labour is $10 and the cost of the capital is $50.
  TABLE 7-3
-Refer to Table 7-3.If this firm is producing 111 units of output per period,its marginal cost is
A)$1.00. 
B)16.7 cents. 
C)76 cents. 
D)24 cents. 
E)38 cents.

Quizplus · Accepted Answer

The Answer of The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital.Assume that the wage per unit of labour is $10 and the cost of the capital is $50.
  TABLE 7-3
-Refer to Table 7-3.If this firm is producing 111 units of output per period,its marginal cost is
A)$1.00. 
B)16.7 cents. 
C)76 cents. 
D)24 cents. 
E)38 cents.

The Following Data Show the Total Output for a Firm