Cost of Production The Following Questions Refer to the Diagram Below. the Wage

question 56

Multiple Choice

Cost of Production

The following questions refer to the diagram below. The wage rate is assumed to be $12 per hour, the rental rate is assumed to be $6 per hour, and capital is assumed to be fixed in the short run at 10 hours.



-Refer to Cost of Production.The long-run total cost of producing 60 units of output per week is

• A) $180.
• B) $270.
• C) $300.
• D) $900.

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