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.
TABLE 8-2
-Refer to Table 8-2.If capital costs $6 per unit and labour costs $4 per unit,which production method minimizes the cost of producing 1000 toys per day?
A)method B
B)method C
C)method D
D)method E
E)method F

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.
  TABLE 8-2
-Refer to Table 8-2.If capital costs $6 per unit and labour costs $4 per unit,which production method minimizes the cost of producing 1000 toys per day?
A)method B 
B)method C 
C)method D 
D)method E 
E)method F

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.
  TABLE 8-2
-Refer to Table 8-2.If capital costs $6 per unit and labour costs $4 per unit,which production method minimizes the cost of producing 1000 toys per day?
A)method B 
B)method C 
C)method D 
D)method E 
E)method F

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