Mathematics, 31.10.2020 03:00, riptaylorsreputation
1. One unit of Commodity A is produced by combining
a. 1 unit of Land, 2 units of Labour and 5 units of capital. Also 1 unit of Commodity B is produce by 2 units of land 3 units of Labour and 1 unit of capital, similarly, 1 unit of commodity C results from the use of 3 units of land, 1 unit of Labour and 2 units of capital.
Assuming that the price of commodities A, B and C are repectively Pa = N270 Pb = N160 and
Pc = N190 find the total rent (c) the wages (w) and interest (i) of the three resources.
Answers: 3
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1. One unit of Commodity A is produced by combining
a. 1 unit of Land, 2 units of Labour and 5 unit...
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