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:

African American Families

Family units that are part of the African American community, often sharing a unique cultural and historical heritage.

Relational Bonding

The process of developing a close, interpersonal connection between individuals through shared experiences and emotional engagement.

American Indian Family

The family unit and social structures within Native American communities, which may include extended family and tribal affiliations.

Treating People Unfairly

Acting in a biased or discriminatory manner towards individuals, denying them equal treatment or opportunities.