Use the information provided in Table 7.2 below to answer the ...

[faduma]

Question 1

Use the information provided in Table 7.1 below to answer the question(s) that follow. 

Refer to Table 7.1. If the hourly wage rate is $10 and the hourly price of capital is $25, which production technology should be selected?

◦ A
◦ B
◦ C
◦ D

Question 2

Use the information provided in Table 7.2 below to answer the question(s) that follow. 

Refer to Table 7.2. Which technology is the most capital intensive?

◦ A
◦ B
◦ C
◦ D

[ecox1012]

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[melly21297]

Question 1

Use the information provided in Table 7.2 below to answer the question(s) that follow. 

Refer to Table 7.2. If the hourly wage rate is $10 and the hourly price of capital is $50, which production technology should be selected?

◦ A
◦ B
◦ C
◦ D

Question 2

Use the information provided in Table 7.2 below to answer the question(s) that follow. 

Refer to Table 7.2. If the hourly price of labor is $10 and the hourly price of capital is $1, which production technology should be selected?

◦ A
◦ B
◦ C
◦ D

[bhavsar]

Answer 1

D

Answer 2

A

[melly21297]

TY

[bhavsar]

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[sammy]

Question 1

Use the information provided in Table 7.2 below to answer the question(s) that follow. 

Refer to Table 7.2. Which technology is the most labor intensive?

◦ A
◦ B
◦ C
◦ D

Question 2

Use the information provided in Table 7.2 below to answer the question(s) that follow. 

Refer to Table 7.2. Which technology is the least capital intensive?

◦ A
◦ B
◦ C
◦ D

[sailorcrescent]

Answer 1

D

Answer 2

D

[Capo]

Question 1

Use the information provided in Table 7.2 below to answer the question(s) that follow. 

Refer to Table 7.2. If the hourly price of capital is $30 and the hourly wage rate is $5, which production technology should be selected?

◦ A
◦ B
◦ C
◦ D

Question 2

Use the information provided in Table 7.2 below to answer the question(s) that follow. 

Refer to Table 7.2. If the hourly price of capital is $10 and the hourly price of labor is $20, which production technology should be selected?

◦ A
◦ B
◦ C
◦ D

[Amiracle]

Answer 1

C

Answer 2

A