Assume it takes 10 units of labor to produce 4 units of output. When the price of

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Assume it takes 10 units of labor to produce 4 units of output. When the price of labor is $6 per unit and fixed costs equal $60, what is the total cost of those 4 units of output? Select one:

a. $120

b. $70

c. $84

d. $60

Related Book For answer-question

Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

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Posted Date: May 03, 2019 10:07 AM

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Assume it takes 10 units of labor to produce 4 units of output. When the price of

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The total cost is the sum of fixed costs amd variable cos... View the full answer

Microeconomics

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