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.
A) $1.67.
B) $10.00.
C) $1.00.
D) 50 cents.
E) 16.7 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.
A) $1.67. 
B) $10.00. 
C) $1.00. 
D) 50 cents. 
E) 16.7 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.
A) $1.67. 
B) $10.00. 
C) $1.00. 
D) 50 cents. 
E) 16.7 cents.

The Following Data Show the Total Output for a Firm