Modeling Technology of Industrial Revolution. Note: NUMERIC ANSWER ONLY. Do not include decimals, commas, spaces, or dollar signs in your answer. Technology Workers Coal Cost 1600s Profit 1600s Cost 1700s Profit 1700s A 15 10 B 20 20 20 20 C 10 40 D 5 30 (a) Without knowing the price of labor or coal, do we know if any technologies are better than technology B? = (b) Without knowing the price of labor or coal, do we know if any technologies are better than technology C?
Modeling Technology of Industrial Revolution. Note: NUMERIC ANSWER ONLY. Do not include decimals, commas, spaces, or dollar signs in your answer. Technology Workers Coal Cost 1600s Profit 1600s Cost 1700s Profit 1700s A 15 10 B 20 20 20 20 C 10 40 D 5 30 (a) Without knowing the price of labor or coal, do we know if any technologies are better than technology B? = (b) Without knowing the price of labor or coal, do we know if any technologies are better than technology C?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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
Transcribed Image Text:Modeling Technology of Industrial Revolution.
Note: NUMERIC ANSWER ONLY. Do not include decimals, commas, spaces, or dollar signs
in your answer.
Technology Workers Coal Cost 1600s Profit 1600s Cost 1700s Profit 1700s
A
15
10
B
20
20
20
20
C
10
40
D
5
30
(a) Without knowing the price of labor or coal, do we know if any
technologies are better than technology B?
=
(b) Without knowing the price of labor or coal, do we know if any
technologies are better than technology C?
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