The table gives marginal product data for resources a and b. The output of these independent resources sells in a purely competitive market at $1 per unit. Assuming the prices of resources a and b are $5 and $8 respectively, when the firm hires the profit-maximizing combination of resources, its economic profit will be
A)$76.
B)$138.
C)$145.
D)$170.

Question

The table gives marginal product data for resources a and b. The output of these independent resources sells in a purely competitive market at $1 per unit. Assuming the prices of resources a and b are $5 and $8 respectively, when the firm hires the profit-maximizing combination of resources, its economic profit will be
A)$76. 
B)$138. 
C)$145. 
D)$170.

Quizplus · Accepted Answer

The Answer of  The table gives marginal product data for resources a and b. The output of these independent resources sells in a purely competitive market at $1 per unit. Assuming the prices of resources a and b are $5 and $8 respectively, when the firm hires the profit-maximizing combination of resources, its economic profit will be
A)$76. 
B)$138. 
C)$145. 
D)$170.

The Table Gives Marginal Product Data for Resources a and B