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The Below Figure Shows the Various Combinations of the Goods

Question 23

Multiple Choice

The below figure shows the various combinations of the goods X and Y that yield different levels of utility.Figure 7.3
The below figure shows the various combinations of the goods X and Y that yield different levels of utility.Figure 7.3    -Assume that one laborer produces 6 units of output, two laborers produce 14 units, three produce 20 units, and four produce 24 units. If the cost is $20 per unit of labor and fixed costs are $100, what is the average total cost of producing 14 units of output? A) $50 B) $20 C) $10 D) $100 E) $40
-Assume that one laborer produces 6 units of output, two laborers produce 14 units, three produce 20 units, and four produce 24 units. If the cost is $20 per unit of labor and fixed costs are $100, what is the average total cost of producing 14 units of output?


A) $50
B) $20
C) $10
D) $100
E) $40

Correct Answer:

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