Assume it takes 10 units of labor to produce 4 units of output. When the price of labor is $6 per unit and fixed costs equal $60, what is the total cost of those 4 units of output? Select one:

a. $120

b. $70

c. $84

d. $60

a) $120

Step-by-step explanation:

Given:

It takes 10 units of labor to produce 4 units of output.

When the price of labor is $6 per unit and fixed costs equal $60.

Question asked:

What is the total cost of those 4 units of output?

Solution:

To produce 4 units of output:

Price of 1 labor = $6

Price of 10 labors = $6 10 = $60

Fixed cost = $60

Total cost = Price of labors to produce 4 units + Fixed cost

                = $60 + $60 = $120

Therefore, the total cost of those 4 units of output is $120.

the best buy, is the 4- kilogram bag of lollipops for $18.40.

step-by-step explanation:

i found my answer by dividing the cost of each bag by their respective weights.

14.88 divided by 2 = 7.44

17.29 divided by 3 = 5.77

18.4 divided by 4 = 4.6

24.4 divided by 5 = 4.88

by this, i found that the 4 kilo bag is the best buy.