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Assignment-06 Suppose that a manufacturer has a budget of $900 and wants to produce 50,000 units of pens.
The table below illustrates the combination of both Capital and Labor to produce such quantity.
OptionCapitalLaborA102B73C54D35E26F18
Each unit of Capital of costs $100
Each of unit of labor costs $60
1- Draw the Isocost line starting using the given budget (Capital on the Y-axis, Labor on the X-axis).
2- Draw the isoquant line to represents the combination of capital and labor.
3- What is the tangency point that enable the manufacturer to produce the required quantity at the lowest cost possible?
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