Below Are the Input Costs for a Vet Clinic $$

question 2

Multiple Choice

Below are the input costs for a Vet Clinic.
Suppose that labor (hrs) is used to produce vet services (appts) at the Vet Clinic.
The wage rate, or price of labor is PX=$20/hr, and the price of an appointment is P<sub>Y<\sub>=$10/appt.
$$ $$ $\quad$

$\begin{array}{lccccc}\underline{\mathrm{X}} & \underline{\mathrm{Y}} & \underline{\text { TRP }} & \underline{\text {TFC}} & \underline{\pi} &\underline{\text {MRP}} &\underline{\text { MFC }} \\\text {UNITS: }& &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } \\0& \underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } \\1 & 5 &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } \\2 & 15 &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } \\3 & 30 &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } \\4 & 40 &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } \\5 & 45 &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } \\6 & 47 &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } \\7 & 45 &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } &\underline {\quad\quad } \\\end{array}$
-The units for X are:</sub>

• A) hrs
• B) appts
• C) hrs/apt
• D) appts/hr

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Definitions:

Concept

A mental grouping of similar objects, events, ideas, or people.

Automobile

A wheeled motor vehicle used for transportation, typically powered by an internal combustion engine or electric motor.

Transport Vehicles

Means of conveyance designed for moving goods or passengers from one location to another.

Prototype

A mental image or best example of a category. Matching new items to a prototype provides a quick and easy method for sorting items into categories (as when comparing feathered creatures to a prototypical bird, such as a crow).