Table 7-3 Shows the Combinations of Labor and Capital Required

question 28

Multiple Choice

Table 7-3 shows the combinations of labor and capital required to produce various level of output.
Table 7-3
-Refer to Table 7-3.If the firm is currently producing 26 units of output using three units of labor,what is the marginal rate of technical substitution of labor for capital at this point?

• A)-1
• B)-2
• C)-3
• D)-4

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