Suppose That for a Particular Firm the Only Variable Input

question 611

Multiple Choice

Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that the average total cost when 5 units of output are produced is $30, and the marginal cost of the sixth unit of output is $60. What is the average total cost when six units are produced?

• A)$10
• B)$25
• C)$30
• D)$35

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Definitions:

Jealousy

An emotion characterized by feelings of insecurity, fear, and concern over a relative lack of possessions or safety of one's rights or values, often in reference to a romantic interest.

Envy

A sense of dissatisfaction or envy towards someone else's benefits, achievements, or belongings.

Cohabitating Partners

Cohabitating partners are individuals in a romantic relationship who live together without being legally married, sharing daily life and responsibilities.

Extramarital Sex

Sexual activity that occurs outside of one's marriage, often considered infidelity.