Refer to the table. If the price of each input is $5, the per-unit cost of production in the economy is:
Answer the question on the basis of the following information about the relationship between input quantities and real domestic output in a hypothetical economy:
A. $5.
B. $2.75.
C. $2.50.
D. $.40.
C. $2.50.
Economics
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A firm's demand for labor depends on, in part, the demand for the firm's product. To summarize this idea, economists say that the demand for labor is:
a. derived demand. b. marginal demand. c. secondary demand. d. monopsonistic demand.
Economics
Julio makes wine and beer. Last year he made 20 bottles of wine and 20 cases of beer. If the price of grapes goes down (making wine cheaper to make), Julio will be able to make the same amount of wine and more beer
a. True b. False Indicate whether the statement is true or false
Economics