Use the Following Table to Answer the Question Below: the Amount

question 19

Multiple Choice

Use the following table to answer the question below: The amount of total output produced from various combinations of labor and capital. $$\begin{array} { c c c c c c } & & { \text { Units af Capital } } \\ & & 1 & 2 & 3 & 4 \\ & 1 & 50 & 120 & 160 & 180 \\\text { Units } & 2 & 110 & 260 & 360 & 390 \\\text { of } & 3 & 150 & 360 & 510 & 560 \\\text { Lebor } & 4 & 170 & 430 & 630 & 690 \\& 5 & 160 & 480 & 710 & 790\end{array}$$ If the capital stock is fixed at four units and there are three units of labor,what is the average product of labor?

• A)50
• B)140
• C)157.5
• D)170
• E)none of the above

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Definitions:

Defective Widgets

Products, specifically widgets, that fail to meet the required quality or functional standards, potentially leading to legal liability for manufacturers or sellers.

Cover

In the context of contracts, the act of seeking a substitute fulfillment of a contract, for example, purchasing goods from a different supplier if the original supplier fails to perform.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, aimed at harmonizing the law of sales and other commercial transactions across state lines.

2-712

Pertains to the Uniform Commercial Code (UCC), specifically the section regarding "Cover" and the buyer's right to procure substitute goods.