Use the information provided in Table 7

Subject:EconomicsPrice: Bought3

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Use the information provided in Table 7.1 below to answer the questions thatfollow. Table 11 Inputs Required to Produce a Product Using Alternative Technologies Technology Units of Capital Number of Employees A 4 18 B 6 12 C B 8 D 12 6 4) Refer to Table 7.1 above. Which technology is the most labor intensive? A) A B) B C) C D) D Answer: A Diff: 2 Topic: The Production Process Skill: Analytic 5) Refer to Table 7:1 above. Which technology is the most capital intensive? A) A B) B C) C D) D Answer: D Diff: 2 Topic: The Production Process Skill: Analytic 6) Refer to Table 7.1. If the hourly price of capital is $10 and the hourly wage rate is $7, which production technology should be selected? A) A B) B C) C D) D Answer: C Diff: 2 Topic: The Production Process Skill: Analytic 10 11/42 10 To download more slides, ebook, solutions and test bank, visit http://downloadslide.blogspot.oom 7) Refer to Table 7.1. If the hourly price of capital is $20 and the hourly wage rate is $5, which production technology should be selected? A) A B) B C) C D) D Answer: A Diff: 2 Topic: The Production Process quan- Annlmlir' 4}