Technology A Technology B Technology C Output K L K L K L 10 4 5 5 6 6 4 15 3 10 4 7 5 5 20 4 11 5 8 7 8 25) Which technology will the firm choose for Q = 15, if price(capital) : 3 and price (labor): 2? a) technology A b) technology B c) technology C d)none of them

Technology A

Technology B

Technology C

Output

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 32CTQ: How does fixed cost affect marginal cost? Why is this relationship important?

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25) Which technology will the firm choose for Q = 15, if price(capital) : 3 and price (labor): 2?

a) technology A

b) technology B

c) technology C

d)none of them

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