A Firm Is Using 500 Units of Capital and 200

question 71

Multiple Choice

A firm is using 500 units of capital and 200 units of labor to produce 10,000 units of output. Capital costs $100 per unit and labor $20 per unit. The last unit of capital added 50 units of output, while the last unit of labor added 20 units of output. The firm

• A) is using the cost-minimizing combination of capital and labor.
• B) should use more of both inputs in equal proportions.
• C) should use less of both inputs in equal proportions.
• D) could produce the same level of output at a lower cost by using more capital and less labor.
• E) could produce the same level of output at a lower cost by using less capital and more labor.

Analyze logical instructions and predict their outcomes based on given values.

Understand the functionalities of memory maps and identify components such as word, register, bit, file, and table.

Describe the operation and applications of timers, counters, and their programming in PLCs.

Recognize and interpret the function and application of masked move (MVM) instructions.

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Definitions:

Courts

Judicial institutions with the authority to interpret and apply the law, adjudicate legal disputes, and administer justice.

Quasi-Contracts

Legal obligations imposed by a court to prevent unjust enrichment, even when no actual contract exists.

Implied-In-Law Contract

A legally enforceable agreement created by a court order, not explicit agreement, to ensure fairness and prevent unjust enrichment.

Actual Contracts

Legally binding agreements created by the actions, behavior, or circumstances of the parties involved, rather than by written or spoken words.