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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
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 B C D Labour 25 35 50 30 Capital 50 35 25 60 TABLE 8-1 Refer to Table 8-1. If the price of both labour and capital is $10, which production technique minimizes the costs of producing 1000 units of output? Question 7 options: A B C D Any of the techniques have the same cost
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