The Following Data Show the Total Output for a Firm

question 18

Multiple Choice

The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital.Assume that the wage per unit of labour is $10 and the cost of the capital is $50.
TABLE 7-3
-Refer to Table 7-3.The average variable cost when this firm is producing 10 units of output is

• A)$0.10.
• B)$0.50.
• C)$0.60.
• D)$1.00.
• E)$6.00.

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Definitions:

Zip Code

A postal code used by postal services to ensure mail is delivered to the correct geographic location.

Aggregate

A total or sum made from combining several separate elements.

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The emotional, physical, and financial stress experienced by individuals who care for chronically sick or disabled family members or friends.