Question

Suppose that real domestic output in an economy is 300 units, the quantity of inputs is 50 and the price of each input is $9. the per-unit cost of production is: $0.67 $1.50 $33.33 $55.00

Answer 1

Total Cost of Input=$9*50units

=$450

Cost per unit of productions=Total Cost/Output

=450/300

=$1.50 per unit