Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 
Figure 7.11
Refer to Figure 7.11. If the firm's cost of capital is $30 per unit and its cost of labor is $60 per unit, the isocost line represents a total cost of
A. $2,000.
B. $3,000.
C. $6,000.
D. $8,000.
Answer: C
You might also like to view...
In the Keynesian model, whenever planned investment is less than planned saving
A) the amount of planned investment will decrease, and real GDP will decrease. B) there will be an unplanned inventory increase, and real GDP will eventually decrease. C) there will be an unplanned inventory decrease, and real GDP will eventually increase. D) the amount of planned investment will decrease, and real GDP will remain unchanged.
In the United States in 2014, more people were classified as being not in the labor force than being employed
Indicate whether the statement is true or false
A price discriminating monopolist
A) produces more output than that produced by a single-price monopolist. B) has a lower marginal cost than that incurred by a single-price monopolist. C) makes a smaller economic profit than that earned by the single-price monopolist. D) makes zero economic profit in the long run.
Suppose your expenses for this term are as follows: tuition: $28,000, room and board: $9,000, books and other educational supplies: $2,500
Further, during the term, you can only work part-time and earn $16,000 instead of your full-time salary of $42,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? A) $36,500 B) $56,500 C) $65,500 D) $72,500