Assume That in Table 30

question 47

Multiple Choice

$\begin{array}{l}\begin{array} { c c c c } \text { Output (units) } & \text { Labor (units) } & \text { Output (units) } & \text { Capital (units) } \\10 & 1 & 20 & 1 \\26 & 2 & 56 & 2 \\38 & 3 & 86 & 3\end{array}\\\\\text { Table 30.5 }\end{array}$ Assume that in Table 30.5 the cost of labor is $4 per unit and the cost of capital is $6 per unit.In Table 30.5, what is the cost efficiency of the second unit of labor?

• A)64 units per $1 of cost.
• B)16 units per $1 of cost.
• C)26 units per $1 of cost.
• D)4 units per $1 of cost.

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Definitions:

Acreage Allotment

A government policy that limits the amount of land that can be used for certain agricultural crops, often aimed at controlling supply and stabilizing market prices.

Agricultural Products

Items that originate from farming and the cultivation of the land, including crops, livestock, and raw materials.

Food For Peace

A U.S. government program that provides food assistance abroad to help support economic stability and encourage peace.

Agricultural Land

Land designated for the primary purpose of agricultural production, including cultivation of crops and livestock rearing.