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:

Financial Statements

Financial statements are formal records of the financial activities and condition of a business, person, or other entity, providing an overview of a company's financial performance and position in the market.

Section 11

A provision of the Securities Act of 1933 that holds issuers liable for material misstatements or omissions in their public offering documents.

Securities Act of 1933

A U.S. law enacted to protect investors by requiring transparency in financial statements so investors can make informed decisions about investments.

Registration Statement

A legal document filed with the Securities and Exchange Commission by companies wishing to issue new securities to the public, containing financial and other significant details.