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Q7 With current technology, suppose a firm is producing 6800 packets of multigrain bread daily. Assume that the least-cost combination of resources in producing multigrain
Q7 With current technology, suppose a firm is producing 6800 packets of multigrain bread daily. Assume that the least-cost combination of resources in producing multigrain bread is 45 units of labour, 32 units of land, 40 units of capital, and 61 unit of entrepreneurial ability, selling at prices of $54, $41, $67, and $49, respectively. Firm sells these 6800 packets of multigrain bread at $6.50 per packet. Based on the given information, answer the questions given below.
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