-Refer to Table 8

question 21

Multiple Choice

-Refer to Table 8.1.Assume the wage rate is $10 and the firm has $1,000 in unavoidable fixed cost.What is the average fixed cost of producing 93 units of output?

• A) $11.40
• B) $10.75
• C) $0.65
• D) $10.00

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Definitions:

Population

A group of individuals of the same species living in the same area at the same time, capable of interbreeding.

Time Separated

A phenomenon or process that is distinguished by a period of time, leading to a divergence in development or outcome.

Hardy-Weinberg Equilibrium

A principle stating that the genetic variation in a population will remain constant from one generation to the next in the absence of disturbing factors.

Allele Frequencies

The relative frequencies of different alleles of a particular gene in a given population.