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Home Q & A Board Other Fields Homework Help Business Economics
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hungry22 hungry22
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2 years ago
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 timeTotal output
0  0
1 25
2 75
3175
4250
5305
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

Microeconomics


Edition: 17th
Author:
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