Refer to Table 8.1. Assuming the price of labor (L) is $5 per unit and the price of capital (K) is $10 per unit, which of the following statements is TRUE?
A) The firm will use production technique A to produce all three units of output.
B) The firm will use production technique B to produce all three units of output.
C) The firm will use production technique B to produce the first two units of output and production technique A to produce the third unit of output.
D) The firm will use production technique A to produce the first unit and production technique B to produce the second and third units of output.
C) The firm will use production technique B to produce the first two units of output and production technique A to produce the third unit of output.
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a. True b. False Indicate whether the statement is true or false
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a. command and control solution b. corrective tax c. corrective subsidy d. all of the above.
What are the externalities associated with education?
What will be an ideal response?
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Answer the following statement true (T) or false (F)