Multiple Choice
Suppose a ?rm can produce 70 units of a product, Zenia, by combining labor, land, capital, and entrepreneurial ability, as in the four alternative techniques shown in the table below. Assume further
That the ?rm can hire labor at $3 per unit, land at $3 per unit, capital at $6 per unit, and entrepreneurship
At $9 per unit.
Refer to the provided table. Which technique is the most economically e?cient way of producing Zenia?
A) A
B) B
C) C
D) D
Correct Answer:

Verified
Correct Answer:
Verified
Q102: Economic efficiency entails producing a certain output
Q103: (Consider This) Low-cost production is not important
Q104: The invisible hand concept suggests that<br>A) market
Q105: Households and businesses are<br>A) both buyers in
Q106: What are the Five Fundamental Questions that
Q108: Command systems are also known as<br>A) market
Q109: Which of the following best illustrates the
Q110: In a competitive market economy, firms and
Q111: "Consumer sovereignty" means that<br>A) buyers can dictate
Q112: The market system's answer to the fundamental