Labor required Capital required (person-hours) 200 Method (machine-hours) Т-1 100 Т-2 150 150 Т-3 150 130 Т-4 100 200 The table below shows four alternative techniques for assembling a car. The cost of labor is $20 per hour, and the cost of capital is $10 per hour. Which of the four techniques for assembling a car is economically efficient? O T-1 O T-2 O T-3 O T-4

Labor required Capital required (person-hours) 200 Method (machine-hours) Т-1 100 Т-2 150 150 Т-3 150 130 Т-4 100 200 The table below shows four alternative techniques for assembling a car. The cost of labor is $20 per hour, and the cost of capital is $10 per hour. Which of the four techniques for assembling a car is economically efficient? O T-1 O T-2 O T-3 O T-4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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