Suppose That an Economy Produces 2,400 Units of Output, Employing

question 41

Multiple Choice

Suppose that an economy produces 2,400 units of output, employing 60 units of input, and the price of the input is $30 per unit. The per-unit cost of production is

• A) $0.25.
• B) $0.50.
• C) $0.75.
• D) $2.00.

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Definitions:

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people, typically through increasing levels of income, education, and health.

Positive Roles

The beneficial impacts or functions that entities or individuals have within systems, contributing to overall well-being or success.

World Bank

The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

Divisions

Subsections of a larger organization, each focusing on a specific area of operation or market.