Question
An economy is employing 4 units of capital, 5 units of raw materials, and 5 units of labor to produce its total output of 150
An economy is employing 4 units of capital, 5 units of raw materials, and 5 units of labor to produce its total output of 150 units. Each unit of capital costs $10; each unit of raw materials, $4; and each unit of labor, $3. The per-unit cost of production in this economy is
A. $0.50
B. $14.00
C. $0.75
D.$0.05
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Intermediate Microeconomics and Its Application
Authors: Walter Nicholson, Christopher M. Snyder
12th edition
978-1133189022, 1133189024, 1133189032, 978-1305176386, 1305176383, 978-0357687000, 978-1133189039
