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Consider the following table:
If the price of capital is $1 per unit and the price of labour is $2 per unit,the method that maximizes Simply Cotton's productive efficiency is:
Capital Goods
Long-lasting tangible assets that businesses use in the production of goods and services, such as machinery, buildings, and equipment.
LDCs
Less Developed Countries, nations with a lower level of material wealth, industrialization, and socio-economic development.
Terms Of Trade
The ratio at which a country can trade its exports for imports from other countries.
Price Stability
An economic objective aiming to maintain a steady rate of inflation, allowing for predictable planning and investing.
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