Part 1)What is the maximum possible price of coal (in $per ton) if the wage rate is $10 per hour and technology a is optimal? Type in your response as a number with no units
Part 2)What is the maximum possible wage (in $per hour ) if the price of coal is $14.40 per ton and technology e is optimal? Type in your response as a number with no units
Part 3) if the wage rate is $12 per hour,the price of coal is $10 per ton and the cost of production for a firm is $88 per unit of cloth, this firm must be using technology _____ , which is (optimal or not optimal?) ______
Part 4) if the wage rate is 10$ per hour and the price of coal is $10 dollars per ton, then the cost of production using the lowest cost of technology will be $___?
