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Author Question: Refer to the information provided in Table 8.1 below to answer the question(s) that follow. Refer to ... (Read 21 times)

big1devin

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on: Apr 19, 2019

Question 1

Refer to the information provided in Table 8.1 below to answer the question(s) that follow. 





 


Refer to Table 8.1. Assume the price of labor (
L) is $5 per unit, the price of capital (
K) is $10 per unit, and that firms attempt to minimize costs. The total variable cost of producing one unit of output is


◦ $16.
◦ $100.
◦ $120.
◦ $220.

Question 2

Refer to the information provided in Table 8.1 below to answer the question(s) that follow. 





 


Refer to Table 8.1. In the short run, if the price of labor (
L) is $5 per unit, the price of capital (
K) is $10 per unit, and firms attempt to minimize costs, then this firm's total cost of producing one unit of output is


◦ $100.
◦ $120.
◦ $220.
◦ indeterminate from this information.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by big1devin on Apr 19, 2019

strudel15

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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big1devin

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Reply #2 on: Apr 19, 2019
Thank you!


strudel15

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Reply #3 on: Apr 19, 2019
Always glad to help...


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