Capital $32 24 20 16 12 8 Labor Labor Labor Capital $60 48 36 24 12 4 Capital 15 12 1 1 8. 2 3 3. 6 3 1 4 4 4 6. 2 Refer to the given data. If the prices of labor and capital are $12 and $8, respectively, at the profit-maximizing level of output, the firm's total revenue will be O A) $192. B) $180. C) $292. D) $284.

Capital $32 24 20 16 12 8 Labor Labor Labor Capital $60 48 36 24 12 4 Capital 15 12 1 1 8. 2 3 3. 6 3 1 4 4 4 6. 2 Refer to the given data. If the prices of labor and capital are $12 and $8, respectively, at the profit-maximizing level of output, the firm's total revenue will be O A) $192. B) $180. C) $292. D) $284.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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