Refer to the Information Provided in Table 8 -Refer to Table 8

question 302

Multiple Choice

Refer to the information provided in Table 8.1 below to answer the question(s) that follow.
Table 8.1 $$\begin{array} { l c c c } \text { Produce } & \begin{array} { c } \text { Using } \\\text { Techniques }\end{array} & \begin{array} { c } \text { Units of Variable } \\\text { K }\end{array} & \begin{array} { c } \text { Inputs } \\\text { L }\end{array} \\\hline \text { 1 unit of output } & & & \\& \text { A } & 8 & 8 \\& \text { B } & 4 & 12 \\\text { 2 units of output } & & & \\& \text { A } & 14 & 12 \\& \text { B } & 8 & 20 \\3 \text { units of output } & & & \\& \text { A } & 16 & 12 \\& \text { B } & 12 & 22 \\\hline\end{array}$$
-Refer to Table 8.1. In the short run, if the price of labor (L) is $5 per unit, the price of capital (K) is $10 per unit, and firms attempt to minimize costs, then this firm's total cost of producing one unit of output is

• A) $100.
• B) $120.
• C) $220.
• D) indeterminate from this information.

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Definitions:

XY Chromosome

The combination of chromosomes characterized as male in humans, where a Y chromosome inherited from the father pairs with an X chromosome from the mother.

Distinct Cliques

Social clusters within a community where members share common interests or backgrounds, and distinctly separate from other groups.

Major Force

A significant or powerful factor influencing or causing changes in a particular context or environment.

Identity

The understanding or concept of oneself, including personal values, beliefs, and characteristics, that forms an individual's self-perception.