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Author Question: The following data show the total output for a firm when different amounts of labour are combined ... (Read 55 times)

kmcolvin

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on: Oct 12, 2022

Question 1

The relationship between factors of production used in the production process and the resulting output is called a(n)
◦ production boundary.
◦ cost function.
◦ production function.
◦ consumption possibilities boundary.
◦ economic function.

Question 2

The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital. Assume the wage per unit of labour is $10 and the cost of the capital is $50.

Labour per periodTotal output per period
0   0
1  10
2  30
3  90
4132
5150

TABLE 7-3

Refer to Table 7-3. The average variable cost when this firm is producing 90 units of output is
◦ 98 cents.
◦ 68 cents.
◦ 17 cents.
◦ 89 cents.
◦ 33 cents.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by kmcolvin on Oct 12, 2022

Jim457

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Reply #1 on: Oct 12, 2022
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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kmcolvin

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

mjenn52

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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