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QUESTION
Resource Resource Possible Production Techniques Prices 3 5 Land 54 2 Labor ES 3 Capital 53 U 3 Entrepreneurial Ability 52 3
Answer the question using the following data, which show all available techniques for producing 20 units of a particular commodity. Assuming that the firm is motivated by self-interest and that the 20 units that can be produced with each technique can be sold for $2 per unit, the firm will
ResourceResourcePossible Production TechniquesPrices35Land542LaborES3Capital53U3EntrepreneurialAbility523