Use the following to answer questions :
Figure 7A-2
-At Q = 100 in Figure 7A-2, to be producing at least cost, the ratio of (marginal productivity of land)/(marginal productivity of labor)must be:
A)1.
B)1.5.
C)1.67.
D)2.
E)It cannot be determined from the information given.

Question

Use the following to answer questions :
Figure 7A-2 
-At Q = 100 in Figure 7A-2, to be producing at least cost, the ratio of (marginal productivity of land)/(marginal productivity of labor)must be:
A)1. 
B)1.5. 
C)1.67. 
D)2. 
E)It cannot be determined from the information given.

Quizplus · Accepted Answer

The correct answer cannot be determined without specific information on the marginal productivity of land and labor, which is not provided in the question. The least cost production point depends on the specific values of marginal productivity for both inputs, which vary by context and cannot be inferred without additional data.

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