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The following data show the total output for a firm when specified amounts of labour are combined ...

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The following data show the total output for a firm when specified amounts of labour are combined ...

The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of capital. When answering the questions, you are to assume that the wage per unit of labour is $25 and the cost of the capital is $100.

Labour per unit of time	Total output
0	0
1	25
2	75
3	175
4	250
5	305

TABLE 7-4

Refer to Table 7-4. The average total cost of producing 75 units of output is

▸ $1.

▸ $0.80.

▸ $2.

▸ $0.67.

▸ $1.33.

Textbook

Microeconomics

Edition: 17^th

Author: Ragan

Read 177 times

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