(Figure: Cost and Quantity of Output II)

question 36

Multiple Choice

(Figure: Cost and Quantity of Output II)
The total cost of producing an output of 24 is $____.

• A) 70
• B) 30
• C) 20
• D) 0

---

Definitions:

Labor Standards

Regulations concerning the rights and welfare of workers, including minimum wage, working hours, safety, and health protections, and non-discrimination practices.

NAFTA

The North American Free Trade Agreement, a treaty between Canada, Mexico, and the United States that eliminated most tariffs and trade barriers between the countries, in effect from 1994 to 2020.

Labor Cooperation

The collaboration between workers, unions, and sometimes employers to achieve common goals, such as improving working conditions or productivity.

Social Dumping

The practice of companies moving production to countries with lower labor standards or costs, often leading to job loss and reduced labor conditions in the originating country.