The following table illustrates alternative production techniques for producing 18 widgets that can be sold for $1 each for a total revenue of $18. If the price of labor increases from $2 to $3, then the results of using Technique C will change from an economic
A)loss of $2 to a loss of $1.
B)profit of $2 to a profit of $1.
C)profit of $1 to a profit of $2.
D)loss of $1 to a loss of $2.

Question

The following table illustrates alternative production techniques for producing 18 widgets that can be sold for $1 each for a total revenue of $18.  If the price of labor increases from $2 to $3, then the results of using Technique C will change from an economic
A)loss of $2 to a loss of $1. 
B)profit of $2 to a profit of $1. 
C)profit of $1 to a profit of $2. 
D)loss of $1 to a loss of $2.

Quizplus · Accepted Answer

The Answer of The following table illustrates alternative production techniques for producing 18 widgets that can be sold for $1 each for a total revenue of $18.  If the price of labor increases from $2 to $3, then the results of using Technique C will change from an economic
A)loss of $2 to a loss of $1. 
B)profit of $2 to a profit of $1. 
C)profit of $1 to a profit of $2. 
D)loss of $1 to a loss of $2.

The Following Table Illustrates Alternative Production Techniques for Producing 18