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adotey adotey
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A year ago
A firm that manufactures hover boards can produce them with one of three processes used alone or used in combination. The table indicates the amounts of capital and labor required by each of the three processes to produce one hover board.
ProcessUnits of Labor (L)Units of Capital (K)
Process 151
Process 233
Process 316
If capital costs $46 per unit and labor costs $46 per unit, which process will be employed? How much labor and capital will be demanded if the firm produces 10 hover boards?
If the cost of capital increases to $92, which process will be employed? How much labor and capital will be demanded if the firm produces 10 hover boards?

▸ Process 2, $276, Process 3, $598

▸ Process 1, $276, Process 3, $5980

▸ Process 2, $2760, Process 1, $3220

▸ Process 1, $2760, Process 2, $414
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
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billykrabillykra
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A year ago
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