An Economy Is Employing 2 Units of Capital,5 Units of Raw

question 117

Multiple Choice

An economy is employing 2 units of capital,5 units of raw materials,and 8 units of labour to produce its total output of 640 units.Each unit of capital costs $10,each unit of raw materials,$4,and each unit of labour,$3.
-Refer to the above information.If the per unit price of raw materials rises from $4 to $8 and all else remains constant,the per unit cost of production will rise by about:

• A) 100 percent.
• B) 50 percent.
• C) 40 percent.
• D) 30 percent.

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