The Capital Stock Is Fixed at 5 Units,the Price of Capital

question 74

Multiple Choice

The capital stock is fixed at 5 units,the price of capital is $60 per unit,and the price of labor is $20 per unit. Based on the above,if the firm produces 80 units of output,what is its total cost of production?

• A)$540
• B)$1,600
• C)$1,900
• D)$5,040
• E)none of the above

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Definitions:

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The legal term for the duties, powers, responsibilities, and authority that most parents have in relation to their children, covering their care, property, and education.

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An individual or entity's failure to take reasonable care, resulting in harm or damage to others.

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is a legal contract between a borrower and lender that outlines the terms and conditions of a loan used to purchase property, with the property acting as security for the loan.

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The legally determined age at which an individual is considered an adult and capable of making legal decisions and responsibilities.