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Afirmcanusethreedifferentproductiontechnologies

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solution


Question

Afirmcanusethreedifferentproductiontechnologies,withcapitalandlaborrequirementsateachlevelofoutput;asfollows;TECH1;TECH2;TECH3;Daily;Output;K;L;K;L;K;L;100;3;7;4;5;5;4;150;3;10;4;7;5;5;200;4;11;5;8;6;6;250;5;13;6;10;7;8;a);Suppose the firm is operating in a high-wage;country, where capital cost is $100 per unit per day;and labor cost is $80 per worker per day. For each;level of output, which technology is cheapest?

 

Paper#22647 | Written in 18-Jul-2015

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