The Following Graph Shows the Marginal and Average Product Curves

question 67

Multiple Choice

The following graph shows the marginal and average product curves for labor,the firm's only variable input.The monthly wage for labor is $2,800.Fixed cost is $160,000. When the firm uses 40 units of labor,how much output does it produce?

• A)1,600 units
• B)400 units
• C)4,000 units
• D)2,800 units
• E)none of the above

---

Definitions:

Ethnic Minority

A group that has different national or cultural traditions from the main population of a country.

Higher Income Families

Households that have a significantly higher level of income compared to the median or average income level within a given society.

Life Satisfaction

A measure of how individuals evaluate the quality of their lives as a whole, based on their own standards and expectations.

Grandparent Caregivers

Grandparents who take on the primary role of caring for their grandchildren, due to various family circumstances.