Also assume that the per unit cost of capital is 10. since, Ask an Expert

Economics

The table below presents the output and input levels:

K	L	Q
2	0	0
2	1	100
2	2	200
2	3	250
2	4	270

Also assume that the per unit cost of capital is $10. Since the firm has two units of capital, the firm's total fixed cost is $20. Also assume that the cost of each unit of labor is $50.

What is the average total cost when two units of labor (L) are employed?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9450163

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