-Assume Labor-The Only Variable Input of a Firm-Has Average and Marginal

question 2

Multiple Choice

-Assume labor-the only variable input of a firm-has average and marginal product curves shown in the figure above.The price of labor is $1,000 per unit .Marginal cost reaches its minimum value at ________ units of labor usage,which corresponds to ________ units of output.

• A)300; 810,000
• B)300; 300* 1,800
• C)450; 300 * 2,700
• D)500; 300 *2,700
• E)none of the above

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the issuer's account but have not yet been cashed or deposited by the recipient.

Bank Service Charges

Fees charged by a bank to its customers for account maintenance and other banking services.

NSF Check

A check that has been returned by a bank because it cannot be cashed due to insufficient funds in the account it was drawn against.