Refer to the Following

question 48

Multiple Choice

Refer to the following:
The following graph shows the marginal and average product curves for labor, the firm's only variable input. The monthly wage for labor is $2,800. Fixed cost is $160,000.

-When the firm uses 40 units of labor, what is average total cost at this output?

• A) $140
• B) $40
• C) $70
• D) $170
• E) none of the above

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Definitions:

Extension

An anatomical movement where muscles increase the angle between parts of the body, such as straightening an arm or leg.

Synaptic Pruning

A natural process in brain development where extra neurons and synaptic connections are eliminated to increase the efficiency of neuronal transmissions.

Smaller-Brained Animals

Animals with relatively small brain sizes, often implying differences in cognitive capacities and behaviors.

Influenced By Drugs

Refers to the alterations in thoughts, behaviors, or physiological processes caused by the consumption of pharmaceutical or recreational substances.