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
Correct Answer:
Verified
Q18: The below figure shows the various combinations
Q19: The below figure shows the various combinations
Q20: The below figure shows the various combinations
Q21: The figure given below shows cost curves
Q22: The below figure shows the various combinations
Q24: The figure given below shows cost curves
Q25: The figure given below shows the average
Q26: The figure given below shows cost curves
Q27: The following table shows the cost of
Q28: The following table shows the cost of
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