Only Two Resources, Capital and Labor, Are Used in an Economy

question 142

Multiple Choice

Only two resources, capital and labor, are used in an economy to produce an output of 600 million units. If the total cost of capital resources is $300 million and the total cost of labor resources is
$100 million, then the per-unit production costs in this economy are

• A) $0.67.
• B) $1.50.
• C) $2.00.
• D) $3.00.

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Definitions:

Lung Cancer

A type of cancer that originates in the lungs, characterized by the uncontrolled growth of cells in the lung tissue.

Asthma

A chronic inflammatory disease of the airways that causes episodes of wheezing, breathlessness, chest tightness, and coughing.

Snoring

The act of making a snorting or grunting sound while asleep, often due to partial obstruction of the airways.

CPAP Machine

A medical device that provides a constant stream of air pressure to keep the sleeper's airway open, used for treating obstructive sleep apnea.