Table 10-2 shows cost data for Lotus Lanterns,

| October 14, 2019

Table 10-2 shows cost data for Lotus Lanterns, a producer of whimsical night lights. Refer to Table 10-2. What is the average variable cost per unit of production when the firm produces 90 lanterns? (Points : 1) $490 $33.67 $7.67 $5.40 29. Figure 10-7 Refer to Figure 10-7. The lines shown in the diagram are isocost lines. Which of the following shows an increase in the firm’s total cost budget while the price of labor and capital remain unchanged? (Points : 1) the movement from CE to BF the movement from CE to AF the movement from BD to AF the movement from BD to CE 30. A firm has successfully adopted a positive technological change when (Points : 1) it can produce more output using the same inputs. it produces less pollution in its production process. can pay its workers less yet increase its output. it sees an increase in worker productivity. 31. Which of the following is an example of a long run adjustment? (Points : 1) Your university offers Saturday morning classes next fall. Ford Motor Company lays off 2,000 assembly line workers. A soybean farmer turns on the irrigation system after a month long dry spell. Wal-Mart builds another Supercenter.

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