Refer to the Following

question 78

Multiple Choice

Refer to the following:
The price of capital is $12 per unit.

-If the price of labor increases to $40 per unit and total cost is unchanged, what is the maximum amount of output the firm can produce?

• A) 100 units of output
• B) 200 units of output
• C) 300 units of output
• D) 400 units of output
• E) none of the above

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