-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:

Iconic Memory

A component of the visual memory system which includes a brief, transient visual representation of the scene one has just perceived.

Acetylcholine

A neurotransmitter involved in many functions including muscle movement, heart rate, memory, and learning.

Hippocampus

A key region of the brain within the temporal lobe, involved in memory formation and spatial navigation.

Gama-aminobutyric Acid

An amino acid that functions as the major inhibitory neurotransmitter in the brain, regulating nerve cell activity.