Question: Question 31 (Multiple Choice Worth 1 points) (05.03 MC) Use the table to answer the question that follows. Quantity of Labor MP of Labor Quantity

Question 31 (Multiple Choice Worth 1 points) (05.03 MC) Use the table to answer the question that follows. Quantity of Labor MP of Labor Quantity of Capital MP of Capital 8 48 LO LO LO LO What combination of labor and capital would satisfy the input hiring rule that minimizes the cost of production, if the price of labor is $10 and the price of capital is $20? 1 unit of labor; 3 units of capital 2 units of labor; 1 unit of capital 3 units of labor; 2 units of capital 3 units of labor; 3 units of capital 4 units of labor; 2 units of capital

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