The Following Data Show the Total Output for a Firm

question 33

Multiple Choice

The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital.Assume that the wage per unit of labour is $10 and the cost of the capital is $50.
TABLE 7-3
-Refer to Table 7-3.The average total cost when producing 150 units of output is approximately

• A)33 cents.
• B)40 cents.
• C)67 cents.
• D)80 cents.
• E)$1.50.

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Definitions:

Path-goal Theory

A leadership theory that states a leader's behavior is contingent to the satisfaction, motivation, and performance of their subordinates.

Participative Style

A leadership strategy that emphasizes collaboration and solicits feedback and involvement from team members in decision processes.

Joint Decision-making

A process where two or more parties collaborate to make a decision, often used in contexts like family decisions, business partnerships, and collaborative projects.

Directive Style

A leadership approach characterized by providing clear expectations, specific directions, and close supervision of tasks and performance.