Question

Suppose that an economy produces 2400 units of output, employing the 60 units of input, and the price of the input is $30 per unit. refer to the information above. the per-unit cost of production is: $0.50 $0.75 $2.00 $0.25

Answer 1

cost per unit = $0.75

Step-by-step explanation:

The cost per unit of production

= Total cost of inputs used / Number of units produced

= ($30× 60)/2,400 units

=$0.75

We have simply done is to spread the total cost of the product the over the number of units