the question based on the following information: Suppose 32 units of product Y can be produced by employing just labor and capital in the four ways shown in the following table. Assume the prices of labor and capital are $3 and $4, respectively. Production Techniques 1 2 3 4 Labor 4 4 2 4 Capital 3 2 4 1 How much profit will be made if the price of Y is $1.50 each? Answer the question based on the following information: Suppose 32 units of product Y can be produced by employing just labor and capital in the four ways shown in the following table. Assume the prices of labor and capital are $3 and $4, respectively. Production Techniques 1 2 3 4 Labor 4 4 2 4 Capital 3 2 4 1 How much profit will be made if the price of Y is $1.50 each? $48 $4 $16 $32