The following table shows the marginal products of capital (K)and labour (L)for various methods for Firm ABC to produce 1000 toys per day. $$\begin{array} { | c | c | c | }
\hline \begin{array} { c }
\text { Production } \
\text { Method }
\end{array} & \text { MPK } _ { K } & \text { MP}_{L } \
\hline \text { A } & 50 & 4 \
\hline \text { B } & 45 & 8 \
\hline \text { C } & 40 & 12 \
\hline \text { D } & 35 & 16 \
\hline \text { E } & 30 & 20 \
\hline \text { F } & 25 & 24 \
\hline \text { G } & 20 & 28 \
\hline
\end{array}$$ TABLE 8- 2
-Refer to Table 8- 2.Suppose capital costs $80 per unit and labour costs $24 per unit.Which production method minimizes the cost of producing 1000 toys per day.
A)method F
B)method D
C)method E
D)method B
E)method C

Question

The following table shows the marginal products of capital (K)and labour (L)for various methods for Firm ABC to produce 1000 toys per day. $$\begin{array} { | c | c | c | } 
\hline \begin{array} { c } 
\text { Production } \
\text { Method }
\end{array} & \text { MPK } _ { K } & \text { MP}_{L } \
\hline \text { A } & 50 & 4 \
\hline \text { B } & 45 & 8 \
\hline \text { C } & 40 & 12 \
\hline \text { D } & 35 & 16 \
\hline \text { E } & 30 & 20 \
\hline \text { F } & 25 & 24 \
\hline \text { G } & 20 & 28 \
\hline
\end{array}$$ TABLE 8- 2
-Refer to Table 8- 2.Suppose capital costs $80 per unit and labour costs $24 per unit.Which production method minimizes the cost of producing 1000 toys per day.
A)method F
B)method D
C)method E
D)method B
E)method C

Quizplus · Accepted Answer

The Answer of The following table shows the marginal products of capital (K)and labour (L)for various methods for Firm ABC to produce 1000 toys per day. $$\begin{array} { | c | c | c | } 
\hline \begin{array} { c } 
\text { Production } \
\text { Method }
\end{array} & \text { MPK } _ { K } & \text { MP}_{L } \
\hline \text { A } & 50 & 4 \
\hline \text { B } & 45 & 8 \
\hline \text { C } & 40 & 12 \
\hline \text { D } & 35 & 16 \
\hline \text { E } & 30 & 20 \
\hline \text { F } & 25 & 24 \
\hline \text { G } & 20 & 28 \
\hline
\end{array}$$ TABLE 8- 2
-Refer to Table 8- 2.Suppose capital costs $80 per unit and labour costs $24 per unit.Which production method minimizes the cost of producing 1000 toys per day.
A)method F
B)method D
C)method E
D)method B
E)method C

The Following Table Shows the Marginal Products of Capital (K)and