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:

Authority Patterns

The structure and distribution of authority and power within a group or organization.

African American

An ethnic group in the United States with ancestors who were predominantly from sub-Saharan Africa, known for their rich cultural heritage and history.

Matriarchal

A social system in which women hold primary power, making major decisions and being at the center of authority within families, communities, or entire societies.

Cultural Pluralism

The existence of multiple distinct cultures in a society, each retaining their cultural identity while coexisting with others.