Answer the Question on the Basis of the Following Marginal

question 41

Multiple Choice

Answer the question on the basis of the following marginal product data for resources a and b.The output of these independent resources sells in a purely competitive market at $1 per unit. $\begin{array}{ccc}\begin{array}{ccc}\text { Inputs } \\\text { of a } & & \mathrm{MP}_{\mathrm{a}} \\\hline1 & & 25 \\2 & & 20 \\3 & & 15 \\4 & & 10 \\5 & & 5 \\6 & & 2 \\7 & & 1\end{array}\begin{array}{c}\begin{array}{c}\text { Inputs } \\\text { of } b\end{array} & & M P_{b} \\\hline1 & & 40 \\2 & & 36 \\3 & & 32 \\4 & & 24 \\5 & & 20 \\6 & & 16 \\7 & & 8\end{array}\end{array}$ Refer to the given data.Assuming the prices of resources a and b are $5 and $8 respectively,what is the least costly combination of resources for the firm to employ in producing 192 units of output?

• A) 2 of a and 6 of b.
• B) 6 of a and 2 of b.
• C) 4 of a and 3 of b.
• D) 3 of a and 4 of b.

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Definitions:

English American Cities

Cities in the Americas that were founded or significantly influenced by British settlers or culture, reflecting English architectural, social, and governmental characteristics.

Artisans

Skilled workers who make goods by hand, often in a small workshop setting.

Factory Production

The process of manufacturing goods in bulk using machinery and assembly lines, typically within an industrial setting.

Redemptioners

Indentured families or persons who received passage to the New World in exchange for a promise to work off their debt in America.