Suppose That for a Particular Firm the Only Variable Input

question 7

Multiple Choice

Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that when the firm hires 4 workers, the firm produces 50 units of output. If the fixed cost of production is $4, the variable cost per unit of labor is $20, and the marginal product of labor for the fifth unit of labor is 2, what is the average total cost of production when the firm hires 5 workers?

• A)$2.00
• B)$20.00
• C)$20.80
• D)$22.80

Understand the implications and outcomes of treatments for sexual disorders and gender dysphoria.

Recognize the biological and psychological factors influencing sexual desire and function.

Understand the development and manifestations of gender identity and related disorders.

Understand various sexual dysfunctions and their characteristics.

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Definitions:

Equity Method

An accounting approach where an investor's stake in a company is reflected by reporting the investor's proportionate share of the company's net assets and earnings.

Joint Venture

An agreement between two or more entities to combine their assets to achieve a particular goal.

Gross Profit

The financial gain derived from subtracting the cost of goods sold from total revenue.

Income Tax Allocation

Income tax allocation involves assigning income tax expense or benefit to the various components of comprehensive income, such as operating income and items recorded directly to equity.