The Table Gives Marginal Product Data for Resources a and B

question 248

Multiple Choice

The table gives marginal product data for resources a and b. The output of these independent resources sells in a purely competitive market at $1 per unit. Assuming the prices of resources a and b are $10 and $20 respectively, what is the profit-maximizing combination of resources?

• A)6 of a and 3 of b
• B)3 of a and 6 of b
• C)5 of a and 4 of b
• D)4 of a and 5 of b

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Definitions:

Situational Leadership

A leadership style that proposes the most effective leadership varies with the level of the followers’ readiness or development.

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A way of leading, instructing, or guiding individuals or teams to improve performance and achieve goals.

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A leadership or management approach that actively involves team members in decision-making processes and problem-solving tasks.

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A management approach where authority and tasks are transferred to subordinates or team members.