Refer to the Information Provided in Table 8 -Refer to Table 8

question 302

Multiple Choice

Refer to the information provided in Table 8.1 below to answer the question(s) that follow.
Table 8.1 $$\begin{array} { l c c c } \text { Produce } & \begin{array} { c } \text { Using } \\\text { Techniques }\end{array} & \begin{array} { c } \text { Units of Variable } \\\text { K }\end{array} & \begin{array} { c } \text { Inputs } \\\text { L }\end{array} \\\hline \text { 1 unit of output } & & & \\& \text { A } & 8 & 8 \\& \text { B } & 4 & 12 \\\text { 2 units of output } & & & \\& \text { A } & 14 & 12 \\& \text { B } & 8 & 20 \\3 \text { units of output } & & & \\& \text { A } & 16 & 12 \\& \text { B } & 12 & 22 \\\hline\end{array}$$
-Refer to Table 8.1. In the short run, if the price of labor (L) is $5 per unit, the price of capital (K) is $10 per unit, and firms attempt to minimize costs, then this firm's total cost of producing one unit of output is

• A) $100.
• B) $120.
• C) $220.
• D) indeterminate from this information.

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Definitions:

Environmental Factors

Elements in the external surroundings that can influence the development, behavior, and survival of organisms.

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Professionals specializing in diagnosing and treating mental, emotional, and behavioral disorders.

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Standardized measures designed to assess various aspects of an individual's mental functions and behaviors.

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A complex psychological state characterized by apprehension or fear of future uncertainty or danger.