The following question are based on the following table, which illustrates for a given level of wheat production the ratio of marginal products for different combinations of land and labor:

-If the price of land is $5 per unit and the price of labor is $2 per unit,then the least-cost combination of land and wheat is
A) 1.
B) 2.
C) 3.
D) 4.
E) 5.

Question

The following question are based on the following table, which illustrates for a given level of wheat production the ratio of marginal products for different combinations of land and labor:
 
-If the price of land is $5 per unit and the price of labor is $2 per unit,then the least-cost combination of land and wheat is
A) 1. 
B) 2. 
C) 3. 
D) 4. 
E) 5.

Quizplus · Accepted Answer

The Answer of The following question are based on the following table, which illustrates for a given level of wheat production the ratio of marginal products for different combinations of land and labor:
 
-If the price of land is $5 per unit and the price of labor is $2 per unit,then the least-cost combination of land and wheat is
A) 1. 
B) 2. 
C) 3. 
D) 4. 
E) 5.

The Following Question Are Based on the Following Table, Which