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Multiple Choice increase production, hire more workers and reduce the amount of capital rented. maintain his current utilization of resources. OOOO hire fewer workers and
Multiple Choice increase production, hire more workers and reduce the amount of capital rented. maintain his current utilization of resources. OOOO hire fewer workers and increase the amount of capital rented, Andrew utilizes labor and capital to produce lemonade for his lemonade stand. The table below depicts the productivity of labor and capital for Andrew's Lemonade Stand. The price oflabor is $10 per worker and the price of capital is $25.00. Workers Total Marginal Marginal Capital Total Marginal Marginal Product Product Product Product Product Product of Labor per 01' Capital per Dnllar Dollar 0 7 7 7 0 7 7 7 1 100 100 1D 1 15E) 15E) 6 2 170 70 7 2 275 125 5 3 2'20 50 5 3 375 100 4 4 250 30 3 4 450 75 3 5 260 10 1 5 475 25 1 If Andrew is utilizing two workers and three units of capital. in order to follow the least7cost rule he should
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