A Firm Producing Calculators Employs 6 Workers

question 168

Multiple Choice

A firm producing calculators employs 6 workers.Each worker produces 40 calculators per week.Assuming that labour is the only variable input and the weekly wage is $500 per worker,the firm's

• A) average variable cost is $12.50.
• B) average cost is $12.50.
• C) average variable cost is $83.33.
• D) average fixed cost is $10.
• E) average variable cost is $50.00.

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Definitions:

Coolhunting

The process of identifying and analyzing new trends, styles, and cultural shifts, often used in marketing and product development to stay ahead of consumer tastes.

Across Media

Refers to the elements that exist or operate in different types of media platforms or across various media channels.

Strategic Gains

Benefits or advantages achieved through the implementation of strategic planning and actions in a business context.

Product Life Cycle

The sequence of stages that a product goes through from introduction, growth, maturity, to decline, which affects the marketing strategy and the marketing mix.