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(Solved): The next 3 questions refer to the following: The capital stock is fixed at 8 units, the price of cap ...
The next 3 questions refer to the following: The capital stock is fixed at 8 units, the price of capital is
$90per unit, and the price of labour is
$30per unit. \table[[Labour,Output],[0,0],[5,14],[10,30],[15,50],[20,64],[25,76],[30,84],[35,90]] If the firm produces 84 units of output, its Total Cost of production is $
◻. If the firm produces 64 units of output, its Average Variable Cost is $
◻The
744^(th )unit of output adds
$
◻to the firm's Total Variable Cost.
