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:

Probability

The estimation of how probable an event is, marked by a number from 0 to 1.

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