Question: Imagine there are three technologies involved in manufacturing a certain product. The first technology requires 4 4 unit ( s ) of labor and 2

Imagine there are three technologies involved in manufacturing a certain product. The first technology requires 44 unit(s) of labor and 22 unit(s) of materials per unit of product. The second technology requires 33 unit(s) of labor and 33 unit(s) of materials. The third technology requires 22 unit(s) of labor and 44 unit(s) of materials.
What is the minimum cost of manufacturing the product if one unit of labor costs $14$14 and one unit of materials costs $8$8? Write the exact answer. Do not round.
Method 1:6060 units of labor, 3030units of capital
Method 2: 7070units of labor, 2020units of capital
Method 3: 4040units of labor, 5050units of capital
Step 1 of 2:
If hiring labor for the winter costs$350per unit$350per unit, and a unit of capital costs$550,$550, what production method should the company choose?Select the best answer.

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