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Author Question: Refer to Scenario 7.8 below to answer the question(s) that follow. SCENARIO 7.8: A swimming pool ... (Read 37 times)

rosent76

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Question 1

Use the information provided in Table 7.4 below to answer the question(s) that follow.







Refer to Table 7.4. If the hourly price of capital is $40 and the hourly wage rate is $10, which production technology should be selected?


◦ A
◦ B
◦ C
◦ D

Question 2

Refer to Scenario 7.8 below to answer the question(s) that follow. 

SCENARIO 7.8: A swimming pool cleaning company has the following production possibilities. With one, two, three, and four workers, the company can clean 5, 12, 17, and 20 pools per day, respectively. 





Refer to Scenario 7.8. The marginal product of the second worker is


◦ 3.
◦ 5.
◦ 7.
◦ 12.


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Marked as best answer by rosent76 on Apr 19, 2019

Qarqy

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