The Following Data Show the Total Output for a Firm

question 98

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. $$\begin{array}{l}\begin{array} { | l | l | } \hline \text { Labour per period } & \text { Total Output per period } \\\hline 0 & 0 \\\hline 1 & 10 \\\hline 2 & 30 \\\hline 3 & 90 \\\hline 4 & 132 \\\hline 5 & 150 \\\hline\end{array}\\\text { TABLE 7- } 3\end{array}$$
-Refer to Table 7- 3. If this firm is producing 20 units of output per period its marginal cost is

• A) $1.67.
• B) $10.00.
• C) $1.00.
• D) 50 cents.
• E) 16.7 cents.

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Definitions:

Heterozygous

Referring to an organism that has two different alleles for a specific gene.

Incomplete Dominance

A genetic situation where neither allele dominates and the phenotype is a blend or mixture of the parental traits.

Albinism

A group of genetic disorders characterized by a lack or decrease in the pigment melanin in the skin, hair, and eyes.

Recessive Trait

A genetic characteristic that is expressed in offspring only when inherited from both parents, hidden when a dominant trait is present.