-In the above table, what is the marginal factor cost of the 4th worker?
Definitions:
Capital Allocation Line
A graph line that shows the risk-return trade-off for efficient portfolios, indicating the rate of return for each unit of risk.
Risk-free Security
A financial instrument considered to have minimal risk of default, often equated with the debt of a solvent government or government-backed entity.
Global Minimum-variance Portfolio
A portfolio constructed to achieve the lowest possible risk (variance), holding investments worldwide to diversify exposure.
Efficient Frontier
A graphical representation in modern portfolio theory showing the set of optimal portfolios that offer the highest expected return for a defined level of risk or vice versa.
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