Answer to Question #771 in Microeconomics for Melissa

Question

Assume that one labourer produces 6 units of output, two labourers produce 14 units, three produce 20 units, and four produce 24 units. If the cost is $20 per labourer and fixed costs are $100, the average total cost at 24 units of output is
a. $7.50.
b. $3.33.
c. $4.17.
d. $100.
e. $180.

Answer 1

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