-The Table Above Gives a Firm's Total Product Schedule

question 6

Multiple Choice

-The table above gives a firm's total product schedule. Suppose labour is the only variable factor of production. The price of labour is $500 per worker per week and total fixed costs are $600 per week. If 95 units are produced, the average total cost is

• A) $6.31.
• B) $26.32.
• C) $17.45.
• D) $32.63.

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Definitions:

Risk-free Return

The return on an investment with no risk of financial loss, typically associated with government bonds or other highly trustworthy securities.

Standard Deviation

A statistic that measures the dispersion of a dataset relative to its mean, used in finance as a measure of the volatility of an investment.

Defined Contribution Plan

A type of retirement plan in which the amount of the employer's annual contribution is specified.

Risk-free Return

The theoretical return on an investment with no risk of financial loss, often represented by the yield on government bonds.