Question: Firm X has a production process that has a total joint cost of $14,000. At the split-off point, there are 2,000 pounds of Product 1

Firm X has a production process that has a total joint cost of $14,000. At the split-off point, there are 2,000 pounds of Product 1 and 6,000 pounds of Product 2. What is the cost per pound of Product 1 using the physical measure method?

Multiple Choice

$2.75.
$2.50.
$2.25.
$1.75.
$1.25.

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