Techniques that produce 100 sweaters 1. In the above table, the technique that i
ID: 1217262 • Letter: T
Question
Techniques that produce 100 sweaters
1. In the above table, the technique that is not technologically efficient is
A) A. B) B. C) C. D) D.
2. In the above table, the technique that is never economically efficient is
A) A. B) B. C) C. D) D.
3. Using the data in the above table, if the price of an hour of labor is $20 and the price of a unit of capital is $10, then the most economically efficient technique for producing 100 sweaters is
A) A. B) B. C) C. D) D.
4. Using the data in the above table, if the price of an hour of labor is $ 30 and the price of a unit of capital is $ 40, then the most economically efficient technique for producing 100 sweaters is
A) A. B) B. C) C. D) D
Technique Labor (hours) Capital (machine) A 10 50 B 25 25 C 10 45 D 30 20Explanation / Answer
1. A
2. A
3. C
Explanation: The total cost of producing 100 sweaters = (10* $20) + (45*$10) = $650, which is less than that of other combination.
4. D
Explanation: The total cost of producing 100 sweaters = (30* $30) + (20*$40) = $1700, which is less than that of other combination.
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