Following is a firm's expansion path.The price of capital is $5 per unit; the price of labor is $2 per unit. When output is 20 units,what is long-run average cost?
A)$2
B)$3.50
C)$4
D)$4.50
E)none of the above

Question

Following is a firm's expansion path.The price of capital is $5 per unit; the price of labor is $2 per unit.  When output is 20 units,what is long-run average cost?
A)$2 
B)$3.50 
C)$4 
D)$4.50 
E)none of the above

Quizplus · Accepted Answer

The Answer of Following is a firm's expansion path.The price of capital is $5 per unit; the price of labor is $2 per unit.  When output is 20 units,what is long-run average cost?
A)$2 
B)$3.50 
C)$4 
D)$4.50 
E)none of the above

Following Is a Firm's Expansion Path