Refer to the Following Graph

question 62

Multiple Choice

Refer to the following graph.The price of capital r) is $20. What combination of K and L should the firm choose to produce 14,000 units of output at the lowest cost?

• A)180K,120L
• B)180K,0L
• C)60K,120L
• D)90K,60L
• E)none of the above

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Definitions:

Henry Louis Gates, Jr.

An American literary critic, professor, historian, and filmmaker known for his extensive research on African American history, literature, and culture, as well as his work in PBS documentaries.

Racism

Prejudice, discrimination, or antagonism directed against someone of a different race based on the belief that one's own race is superior.

Afro-Caribbeans

People of African descent living in the Caribbean islands, whose ancestors were primarily brought to the region through the transatlantic slave trade.

African Immigrants

Individuals from Africa who have migrated to other countries around the world, contributing to the cultural, economic, and social diversity of their new communities.