Complete the following table and what production technique should this firm use: Assuming the price of capital (k) is $5 and the price of labor (L) is $10, and the price of commodity (O) is $3. Technique         TC Profit(7t) A 50 10 6       B 50 9 8       C 50 5 10       D 50 12 8       E 50 2 10       F 50 7 12

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Q1) Complete the following table and what production technique should this firm use: Assuming the price of capital (k) is $5 and the price of labor (L) is $10, and the price of commodity (O) is $3.

Technique

 

 

 

 

TC

Profit(7t)

A

50

10

6

 

 

 

B

50

9

8

 

 

 

C

50

5

10

 

 

 

D

50

12

8

 

 

 

E

50

2

10

 

 

 

F

50

7

12

 

 

 

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