Suppose That for a Particular Firm the Only Variable Input

question 200

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 four units of output are produced, the total cost is $175, and the average variable cost is $33.75. What would the average fixed cost be if ten units were produced?

• A)$4
• B)$10
• C)$40
• D)$135

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Definitions:

Material Power

The ability or capacity to influence or control others through the possession or access to material resources, such as wealth or technology.

Cultural Meanings

The shared significance or value assigned to objects, actions, and ideas within a culture, shaping how they are understood and interpreted.

Implicit Feminist Assumptions

Unstated or indirect beliefs grounded in feminist theories that influence perspectives or analyses without being explicitly expressed.

Capitalist Structures

Economic and social systems characterized by private ownership of the means of production, profit motive, and market competition.