Determine per unit cost of production
Assume that the hypothetical economy had the given relationship among its real domestic output and the input quantities essential for producing that level of output: Determine per unit cost of production if the price of each input is $2?
Assume that the hypothetical economy had the given relationship among its real domestic output and the input quantities essential for producing that level of output:
Determine per unit cost of production if the price of each input is $2?
Expert
Per unit cost of production will be $.75 (= $2 ´ 112.5 / 300).
Following equations denote market for widgets Demand: P = 10 - Q Supply: P = Q - 4 Here P mentions the price in dollars per unit and Q mention the quantity in thousands of units. A
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