10) Using the data in the above table, if the price of an hour of labor is $10 and the price of a unit of capital is $20, then the most economically efficient technique for producing 100 sweaters is A) A. B) B. C) C. D) D. 11) Marginal product is: A) total product divided by the number of workers employed. B) the increase in total cost attributable to the employment of one more worker. C) the increase in total revenue attributable to the employment of one more worker. D) the increase in total output attributable to the employment of one more worker. 10) Using the data in the above table, if the price of an hour of labor is $10 and the price of a unit of capital is $20, then the most economically efficient technique for producing 100 sweaters is A) A. B) B. C) C. D) D. 11) Marginal product is: A) total product divided by the number of workers employed. B) the increase in total cost attributable to the employment of one more worker. C) the increase in total revenue attributable to the employment of one more worker. D) the increase in total output attributable to the employment of one more worker. Solution 10) correct answer is D) D 11) Marginal product is: D) the increase in total output attributable to the employment of one more worker. .

1. 10) Using the data in the above table, if the price of an hour of labor is $10 and the price of a unit
of capital is $20, then the most economically efficient technique for producing 100 sweaters is
A) A.
B) B.
C) C.
D) D.
11) Marginal product is:
A) total product divided by the number of workers employed.
B) the increase in total cost attributable to the employment of one more worker.
C) the increase in total revenue attributable to the employment of one more worker.
D) the increase in total output attributable to the employment of one more worker.
10) Using the data in the above table, if the price of an hour of labor is $10 and the price of a unit
of capital is $20, then the most economically efficient technique for producing 100 sweaters is
A) A. B) B. C) C. D) D. 11) Marginal product is: A) total product divided by the number of
workers employed. B) the increase in total cost attributable to the employment of one more
worker. C) the increase in total revenue attributable to the employment of one more worker. D)
the increase in total output attributable to the employment of one more worker.
Solution
10) correct answer is D) D
11) Marginal product is:
D) the increase in total output attributable to the employment of one more worker.

2. Labor
Hour =
10
Capital = 20
Sweater Produced = 100
Techniques
Labor
(hours)
Capital
(Machines)
total Labor
cost
Total Capital
cost
total
cost
Cost per
sweater
A 10 60 100 1200 1300 13
B 25 25 250 500 750 7.5
C 10 35 100 700 800 8
D 30 20 300 400 700 7