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

question 434

Multiple Choice

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

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

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Definitions:

In Situ Conservation

The process of protecting an endangered species in its natural habitat, as opposed to ex situ conservation, which involves protecting species by removing part of the population from a threatened habitat.

Biodiversity Hotspot

A region that is significantly rich in biodiversity and is under threat from human activities.

Pattern-matching Techniques

Methods used to compare empirical patterns with predicted ones to increase the validity of research findings.

Causal Explanation

The analysis or reasoning given to understand why something happened, identifying causes and effects in a logical sequence.