Study Plan Practice - Nour Tayem - Google Chrome X mathxl.com/Student/PlayerPractice.aspx?chapterld=9&sld=1&single=true¢erwin=yes EC 120 - F20 Nour Tayem & | 11/13/20 9:09 AM 8.1 The Long Run: No Fixed Factors Close 20 of 24 (20 complete) 16 correct X 8.1 Question 22 (Algo) Question Help The table below shows the number of units of labour and capital used in 4 alternative production techniques for producing 1000 widgets per month. Technique A Labour 28 B 32 C 55 D 35 Capital 53 33 24 63 If the price of labour is $11 and the price of capital is $6, which production technique minimizes the costs of producing 1000 units of output? XA. D OB. C AC. B OD. A O E. Any of the techniques have the same cost. Question is complete. Tap on the red indicators to see incorrect answers. ? All parts showing Similar Question 1Consider a basket-producing firm with fixed capital. If the firm can produce 36 baskets per day with 3 workers and then increases production to 44 baskets per day with 4 workers, then which of the following statements is true? O The marginal product of the fourth worker is 11. O The firm has passed the point of diminishing marginal productivity. O With 4 workers, the firm's average product of labour is 8. ()With 4 workers, the marginal product is above the average product. C The firm has not yet reached the point of diminishing marginal productivity