At a Given Output Level, If the Cost of Capital

question 67

Multiple Choice

At a given output level, if the cost of capital is $50 per hour, the wage paid to employees is $30 per hour, the marginal product of capital is 120 units per hour, and the marginal product of labor is 60 units per hour, the firm is ________ .

• A)on a short- run average total cost curve, but not the long- run average cost curve
• B)on the long- run average total cost curve, but not a short- run average cost curve
• C)on neither a short- run average total cost curve nor the long- run average cost curve
• D)on both a short- run average total cost curve and the long- run average cost curve

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Definitions:

Podocyte Processes

Extensions of podocytes, cells in the kidney that wrap around capillaries of the glomerulus, playing a key role in the filtration of blood.

Juxtaglomerular Apparatus

A specialized structure in the kidney that regulates blood pressure and the filtration rate of the glomerulus.

Afferent Arteriole

The small artery that carries blood toward the nephrons in the kidney.

Juxtaglomerular Apparatus

The juxtaglomerular apparatus is a specialized structure in the kidney that plays a key role in regulating blood pressure and filtrate formation by managing the release of renin.