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Question 17 (1 point} 51: The table below presents the output and input levels: Q 0 100 200 250 270 mmmmmx LwMIkc'vl Also assume that
Question 17 (1 point} 51: The table below presents the output and input levels: Q 0 100 200 250 270 mmmmmx LwMIkc'vl Also assume that the per unit cost of capital is $10. Since the firm has two units of capital. the firm's total fixed cost is $20. Also assume that the cost of each unit of labor is $50. What is the average total cost when two units of labor {L} are employed? Your Answer: An swer Question 18 (1 point) E-II The table below presents the output and input levels: Q 0 100 200 250 270 MMMMMX LWMHCJI Also assume that the per unit cost of capital is $10. Since the firm has two units of capital. the firm's total fixed cost is $20. Also assume that the cost of each unit of labor is $50. What is the average variable cost when three units of labor (L) are employed? Your Answer: An swer
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