# Suppose that widgets can be produced using two different production techniques, A and B. The…

Suppose that widgets can be produced using two different production techniques, A and B. The following table provides the total input requirements for each of five different total output levels. a. Assuming that the price of labor (PL) is $2 and the price of capital (PK) is $3, calculate the total cost of production for each of the five levels of output using the optimal […]