Refer to the Following:
the Capital Stock Is Fixed at 5

question 21

Multiple Choice

Refer to the following:
The capital stock is fixed at 5 units, the price of capital is $60 per unit, and the price of labor is $20 per unit.

$$\begin{array} { c c } \text { units of } & \text { units of } \\\text { Labor } & \text { Output } \\\hline 2 & 10 \\4 & 26 \\0 & 46 \\8 & 60 \\10 & 72 \\12 & 80\end{array}$$
-If the firm produces 60 units of output, what is average variable cost?

• A) $5
• B) $7.67
• C) $20
• D) $57.50
• E) $2.67

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Definitions:

Pessimistic Explanatory Style

A cognitive approach where individuals habitually attribute negative events to permanent, personal, and pervasive causes, often affecting their overall outlook on life.

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed, perceived as beyond their control.

Social-cognitive Perspective

An approach in psychology focusing on how people's thoughts, beliefs, and attitudes influence their behavior within a social context.

Epigenetic

Pertains to the study of heritable changes in gene expression that do not involve changes to the underlying DNA sequence.