3.5 A firm can use three different production technologies, with capital and labor requirements at each level of output as follows: Technology 1 Technology 2 Technology 3 Daily Output K L K L K L 100 150 10 200 12 14 250 15 18 10 a. Suppose the firm is operating in a high-wage country, where capital cost is $150 per unit per day and labor cost is $100 per worker per day. For each level of output, which technology is cheapest? b. Now suppose the firm is operating in a low-wage country. where capital cost is $150 per unit per day but labor cost is only $60 per unit per day. For each level of output, which technology is cheapest? c. Suppose the firm moves from a low-wage to a high-wage country but its level of output remains constant at 100 units per day. How will its total employment change? 3.5 (a) Daily Output Technology 1 technology 2 technology 3 100 150 200 250 Activate Wind Go to Settings to a(b) Daily Output Technology 1 technology 2 technology 3 100 150 200 250 (c) Activate Wind Go to Settings to