Use the information provided in Table 7.2 below to answer the question(s) that follow.
Table 7.2Inputs Required to Produce a Product Using Alternative Technologies
Refer to Table 7.2. If the hourly price of capital is $10 and the hourly price of labor is $20, which production technology should be selected?
A. A
B. B
C. C
D. D
Answer: A
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A. True B. False C. Uncertain
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Indicate whether the statement is true or false
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A. Foreign wine producers would be opposed. B. Domestic wine consumers would be opposed. C. Domestic wine producers would be opposed. D. Domestic wine consumers would not be influenced.
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A. An increase in the technology used to produce iPads, making the supply of iPads increase B. An increase in the price of laptop computers, making their MU/P decrease C. The enhanced versatility and storage capacity of iPads, making their MU/P increase D. An increase in the income of buyers, making the demand for iPads increase