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25 Produce Using Units of Hours of Labor Techniques Capital 100 100 20 7. Refer to above Table. Assuming the price of labor (L) is
25 Produce Using Units of Hours of Labor Techniques Capital 100 100 20 7. Refer to above Table. Assuming the price of labor (L) is $12 per unit and the price of capital (K) is $10 per unit, what production technique should this firm use to produce 100 units of output? A) production technique A B) production technique B C) The firm is indifferent between production technique A and production technique B. D) It is impossible to determine if the firm should select production technique A or B because total fixed costs are not given
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