At a Given Output Level, If the Cost of Capital

question 80

Multiple Choice

At a given output level, if the cost of capital is $40 per hour, the wage paid to employees is $40 per hour, the marginal product of capital is 120 units per hour, and the marginal product of labor is 120 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:

Calico Cats

Cats characterized by a tri-color fur pattern, typically involving patches of orange, black, and white, this pattern is most commonly found in female cats due to genetic linkage to the X chromosome.

X Chromosome Inactivation

A process in female mammals where one of the two X chromosomes is inactivated to ensure dosage compensation for gender-based genetic differences.

Phenotype

The set of observable characteristics of an individual resulting from the interaction of its genotype with the environment.

Homozygous

A genetic condition where an individual inherits the same alleles for a particular gene from both parents.