At a given output level, if the cost of capital is $50 per hour, the wage paid to employees is $30 per hour, the marginal product of capital is 120 units per hour, and the marginal product of labor is 60 units per hour, the firm is ________.

A) on a short-run average total cost curve, but not the long-run average cost curve
B) on the long-run average total cost curve, but not a short-run average cost curve
C) on neither a short-run average total cost curve nor the long-run average cost curve
D) on both a short-run average total cost curve and the long-run average cost curve


A) on a short-run average total cost curve, but not the long-run average cost curve

Anthropology & Archaeology

You might also like to view...

An old man in love with a young girl is funny in Neoclassical comedy in part because of:

a. verisimilitude b. decorum c. purity of genres d. purposes of drama: to teach and to please e. three unities

Anthropology & Archaeology

Medical anthropology most often draws upon research from:

a. anthropological linguistics. b. archaeology. c. cultural anthropology. d. physical anthropology. e. anthropological linguistics and archaeology.

Anthropology & Archaeology

The problem of stereotyping applies primarily to the anthropologist, not the people under study

a. True b. False Indicate whether the statement is true or false

Anthropology & Archaeology

Which of the following is true about the homi¬nin fossil remains from the Rising Star cave in South Africa?

A. their cranial capacities are much larger than that of Homo erectus B. they represent multiple individuals of the species Homo naledi C. the endocasts of their brains seem to indi¬cate that they were not social D. their vertebrae resemble those of genus Australopithecus

Anthropology & Archaeology