-The Table Above Shows a Total Product Schedule

question 246

Multiple Choice

-The table above shows a total product schedule.Suppose that labor costs $20 per worker and fixed costs are $60.The total cost of producing 80 units equals

• A) less than $5.
• B) more than $5 and less than $110.
• C) more than $110 and less than $120.
• D) more than $120 and less than $150.
• E) more than $150.

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Definitions:

Opportunity Cost

The worth of the best alternative option given up due to a decision made.

Production

The method of merging different material and immaterial inputs, such as plans and expertise, to produce something that can be consumed.

Opportunity Cost

The penalty for not embracing the immediate subsequent advantageous alternative when choosing.

Coffee

A brewed drink prepared from roasted coffee beans, which are the seeds of berries from the Coffea plant.