Question: Fixed amount capital The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of

Fixed amount capital

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 O 0 W N - 25 75 175 4 250 5 305 TABLE 7-4 Refer to Table 7-4. Average fixed costs for 305 units of output is approximately Select one: O a. 33 cents. O b. 45 cents. O c. $3.05. O d. 41 cents. O e. 74 cents

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