The table gives marginal product data for resources a and b. The output of these independent resources sells in a purely competitive market at $1 per unit. Assuming the prices of resources a and b are $10 and $20 respectively, when the firm hires the profit-maximizing combination of resources, its economic profit will be
A)$140.
B)$222.
C)$117.
D)$82.

Question

The table gives marginal product data for resources a and b. The output of these independent resources sells in a purely competitive market at $1 per unit. Assuming the prices of resources a and b are $10 and $20 respectively, when the firm hires the profit-maximizing combination of resources, its economic profit will be
A)$140. 
B)$222. 
C)$117. 
D)$82.

Quizplus · Accepted Answer

The Answer of  The table gives marginal product data for resources a and b. The output of these independent resources sells in a purely competitive market at $1 per unit. Assuming the prices of resources a and b are $10 and $20 respectively, when the firm hires the profit-maximizing combination of resources, its economic profit will be
A)$140. 
B)$222. 
C)$117. 
D)$82.

The Table Gives Marginal Product Data for Resources a and B