Refer to the Following Graph

question 42

Multiple Choice

Refer to the following graph.The price of capital r) is $20. What combination of labor L) and capital K) can produce 5,000 units of output at lowest cost?

• A)90K,60L
• B)110K,10L
• C)42K,52L
• D)60K,20L
• E)10K,110L

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Definitions:

Subcultures

Subgroups within the larger, or national, culture with unique values, ideas, and attitudes.

National Culture

The set of shared values, beliefs, practices, and norms that characterizes the population of a nation.

Unique Values

Distinctive qualities or principles held by an individual, organization, or product that set them apart from others.

African American

An ethnic group in the United States with total or partial ancestry from any of the black racial groups of Africa.