In the Graph Below,the Price of Capital Is $500 Per

question 70

Multiple Choice

In the graph below,the price of capital is $500 per unit.Between 30,000 and 50,000 units of output,how much does each additional unit of output add to long-run total cost?

• A)$1.50
• B)$2.45
• C)$300
• D)$30,000
• E)none of the above

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Definitions:

Scarcity

A situation in which something is not available in sufficient quantities to satisfy the demand for it.

Rights

Entitlements or privileges that are guaranteed by law or moral principles, allowing individuals to act or be treated in certain ways.

Jobs

Positions of employment where individuals are hired to perform specific duties in exchange for compensation.

Gender Schema

A cognitive framework that organizes information relevant to gender.