Cindy's Sweaters' production function is shown in the above table. Cindy rents two knitting machines for $30 a day each and hires workers at a wage rate of $40 a day. If Cindy produces 18 sweaters per day, what is her average total cost?
A) $6.67
B) $10.00
C) $11.00
D) $13.33
B
Economics
You might also like to view...
In order to obtain a conviction for price fixing under the Sherman Antitrust Act, the government needs to prove:
a. only that an attempt to fix prices was made. b. that there was a price-fixing agreement that actually lessened competition. c. that there was a high concentration ratio for the industry. d. all of these.
Economics
Over-the-counter (OTC) markets:
A. are centralized exchanges but you must be a dealer to be part of an exchange. B. only deal in the stocks of companies with over $100 million in capital. C. employ specialists to minimize price volatility. D. are networks of security dealers linked electronically.
Economics