Try out our new practice tests completely free!
Solved

# The Table Gives Marginal Product Data for Resources a and B

Question 285
Multiple Choice
Question 285
Multiple Choice

## 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. Assume that the prices of a and b are$15 and \$20, respectively. To maximize profits, what combination of a and b should the employer hire?

A)3 of a and 5 of b
B)5 of a and 7 of b
C)7 of a and 7 of b
D)6 of a and 2 of b

Choose question tag

10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes.

Explore our library and get Economics Homework Help with various study sets and a huge amount of quizzes and questions

Get Free Access Now!
Textbook Solutions

Find all the solutions to your textbooks, reveal answers you would’t find elsewhere

Search By Image

Scan any paper and upload it to find exam solutions and many more

Flashcards

Studying is made a lot easier and more fun with our online flashcards