Refer to the given data. Assume now 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?
Answer the question on the basis of the following marginal product data for resources a and b. The output of these independent resources sells in a purely competitive market at $1 per unit.
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.
A. 3 of a and 5 of b.
Economics
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