Use the information provided in Table 7.2 below to answer the question(s) that follow.
Inputs Required to Produce a Product Using Alternative Technologies
$\begin{array} { c c c }
\hline \text { Technology } & \text { Units of Capital } & \text { Number of Employees } \
\hline \text { A } & 16 & 8 \
\text { B } & 12 & 12 \
\text { C } & 8 & 20 \
\text { D } & 6 & 24 \
\hline
\end{array}$

-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) A
B) B
C) C
D) D

Question

Use the information provided in Table 7.2 below to answer the question(s) that follow. 
Inputs Required to Produce a Product Using Alternative Technologies
$\begin{array} { c c c } 
\hline \text { Technology } & \text { Units of Capital } & \text { Number of Employees } \
\hline \text { A } & 16 & 8 \
\text { B } & 12 & 12 \
\text { C } & 8 & 20 \
\text { D } & 6 & 24 \
\hline
\end{array}$

-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) A
B) B
C) C
D) D

Quizplus · Accepted Answer

Technology A has the lowest total cost. The cost of capital for A is $160 (16 units * $10) and the cost of labor is $160 (8 employees * $20), totaling $320. Other technologies have higher total costs.

Use the Information Provided in Table 7 -Refer to Table 7