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Cans are made in a process with two resources. The first resource has a capacity of 5.6 cans per hour. The capacity of the second esource is 4.5 cans per hour. The first resource has 1 worker and the second resource has 3 workers. Demand for this process is 3.1 cans per hour. Wages are $10 per hour. What is the cost of direct labor (in $)? Note: Round your answer to 2 decimal places. > Answer is complete but not entirely correct. 3.73 per unit Cost of direct labor $

Cans are made in a process with two resources. The first resource has a capacity of 5.6 cans per hour. The capacity of the second esource is 4.5 cans per hour. The first resource has 1 worker and the second resource has 3 workers. Demand for this process is 3.1 cans per hour. Wages are $10 per hour. What is the cost of direct labor (in $)? Note: Round your answer to 2 decimal places. > Answer is complete but not entirely correct. 3.73 per unit Cost of direct labor $

Microeconomics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter12: The Supply Of And Demand For Productive Resources
Section: Chapter Questions
Problem 9CQ
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Cans are made in a process with two resources. The first resource has a capacity of 5.6 cans per hour. The capacity of the second resource is 4.5 cans per hour. The first resource has 1 worker and the second resource has 3 workers. Demand for this process is 3.1 cans per hour. Wages are $10 per hour. What is the cost of direct labor (in $)? Note: Round your answer to 2 decimal places. X Answer is complete but not entirely correct. 3.73 per unit Cost of direct labor $
Transcribed Image Text:Cans are made in a process with two resources. The first resource has a capacity of 5.6 cans per hour. The capacity of the second resource is 4.5 cans per hour. The first resource has 1 worker and the second resource has 3 workers. Demand for this process is 3.1 cans per hour. Wages are $10 per hour. What is the cost of direct labor (in $)? Note: Round your answer to 2 decimal places. X Answer is complete but not entirely correct. 3.73 per unit Cost of direct labor $
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