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You are given the following data 240 220- Cost = C = $6,000.00 200- w=$50.00 per unit of labor 180- r= $50.00 per unit of

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You are given the following data 240 220- Cost = C = $6,000.00 200- w=$50.00 per unit of labor 180- r= $50.00 per unit of capital 160- These data are used to construct the isocost line (C ) in the diagram to the right. Suppose the wage increases to $150.00 but that the firm chooses to keep using & Capital, K the same amount of labor and capital to produce 200 units of output. Given this new set of factor prices (w' = $150.00, r =$50.00), how much have costs changed if the set of input choices remains at point A? $ . (Enter a numeric response using a real number rounded to two decimal places.) 9 200 0 20 40 60 80 100 120 140 160 180 200 220 240 Labor, L anag Priva

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