The Following Table Shows the Total Output, Number of Workers

question 254

Multiple Choice

The following table shows the total output, number of workers employed, variable costs, and fixed costs of a firm.

-Refer to the table above.What is the average fixed cost of producing 110 units of the good?

• A) $1.36
• B) $1.72
• C) $37.50
• D) $150

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Definitions:

Basic Assumption

An underlying principle or idea that is accepted as true without proof, forming the basis for further reasoning or behavior.

Level Of Investment

The amount of spending by businesses on capital goods, such as factories and machinery, which can influence economic growth.

Keynes

Refers to John Maynard Keynes, an economist famous for his ideas that in times of low demand, public sector investments are critical to economic stability and growth.

Macroeconomic Policies

Strategies and initiatives implemented by a government or monetary authority to control and improve the overall performance of the economy, including monetary, fiscal, and trade policies.