The table above shows a total product schedule. Suppose that labor costs $20 per worker and fixed costs are $60. The total variable cost of producing 80 units equals

A) less than $50.
B) more than $50 and less than $70.
C) more than $70 and less than $90.
D) more than $90 and less than $120.
E) more than $120.


C

Economics

You might also like to view...

Inflation makes money an imperfect store of value

Indicate whether the statement is true or false

Economics

The case of New Zealand, as described in the text, draws what simple conclusion regarding the country's international debt position?

What will be an ideal response?

Economics

If the Federal Reserve were to simultaneously sell government bonds in the open market and decrease the discount rate, the

a. money supply will increase. b. money supply will decline. c. money stock will stay the same. d. two tools will work in opposite directions and the effect on the money supply is uncertain.

Economics

Compare the equilibrium output in a duopoly to the monopoly output

Economics