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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 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 250 305 TABLE 7-4 Refer to Table 7 -4. The average total cost for 250 units of output is approximately O A. 63 cents. O B. 33 cents. O C. $1.00. O D. 80 cents. O E. 40 cents. Next
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