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Which methods are technologically efficient

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Reference no: EM131487975

Four ways of laundering 100 shirts are:

LABOR METHOD CAPTIOL

A 1 10

B 5 8

C 20 4

D 50 1

a. Which methods are technologically efficient?

b. Which method is economically efficient if the hourly wage rate and the implicit rental rate of capital are (i) wage rate $1, rental rate $100; (ii) wage rate $5, rental rate $50; and (iii) wage rate $50, rental rate $5?

Reference no: EM131487975

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