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The table below shows three different technelcgies used to produce various levels of eutput. ntput Tech 1 Tech 2 Tech 3 K L K L

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The table below shows three different technelcgies used to produce various levels of eutput. ntput Tech 1 Tech 2 Tech 3 K L K L K I 11 6 1 4 4 2 '3' 12 T 3 IS E 3 1t] 13 9 5 3 8 4 14 14 12 T It} 1|3|| 5 ll] 15 15 9 12 13 6 215 l 21 11 14 14 \"I" 32 [a] In general, which input technology is the meat desirable? {b} If the price cf capital is $4 per unit and the price cf laber is $2 per unit which technology 1will be chosen to produce 11 units cf output? (c) Will this still be cheapest if the input prices change to $3 and $3, respectively:J (Ii) 01: $2 and $4, respectively? (e) Far each of the three sets cf prices in (b), (c). and (d) shave. establish which technology is cheapest at each eutpul level

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