Ballard company incurred a total cost of $8,600 to produce 400 units of pulp. each unit of pulp required five (5) direct labor hours to complete. what is the total fixed cost if the variable cost was $1.50 per direct labor hour? $1,700. $3,000. $5,600. $8,000.

Why is the type of product sold in an industry an important characteristic? a firm that can differentiate its product from that of rivals may be able to charge a higher price for a superior product. a firm that sells intangible goods is usually considered a monopoly. service industries cannot differentiate their products, which makes it easy for new firms to enter the industry. expensive products are usually sold by perfectly competitive firms.