The Following Data Show the Total Output for a Firm

question 105

Multiple Choice

The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of capital.When answering the questions,you are to assume that the wage per unit of labour is $25 and the cost of the capital is $100.
TABLE 7-4
-Refer to Table 7-4.The average total cost of producing 75 units of output is

• A)$1.
• B)$2.
• C)$0.80.
• D)$0.67.
• E)$1.33.

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Definitions:

Human Resources Department

The division within a company that is focused on activities relating to employees, including hiring, training, and ensuring compliance with employment laws.

Time Wages

Compensation paid to an employee based on the amount of time worked, typically expressed as an hourly rate.