Author Question: The table below shows the number of units of labour and capital used in 4 alternative production ... (Read 109 times)

jlol3 · **on:** Oct 12, 2022

Question 1

The figure presents Total Product (units of output per day) as a function of Labour (workers per day) hired.

FIGURE 7-2

Refer to Figure 7-2. The marginal product of the fifth worker is

◦ 24 units.
◦ 160 units.
◦ 144 units.
◦ 120 units.
◦ 29 units.

Question 2

The table below shows the number of units of labour and capital used in 4 alternative production techniques for producing 1000 widgets per month.

Technique	A	B	C	D
Labour	25	35	50	30
Capital	50	35	25	60

TABLE 8-1

Refer to Table 8-1. If the price of labour is $5 and the price of capital is $10, which production technique minimizes the costs of producing 1000 units of output?
◦ A
◦ B
◦ C
◦ D
◦ Any of the techniques have the same cost.

Tussalpain · **Reply #1 on:** Oct 12, 2022

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 29% of students answer this correctly