Steel Co. is in the business of iron ore mining. Iron ore mining usesa particularproductio Show more US Iron & Steel Co. is in the business of iron ore mining. Iron ore mining usesa particularproduction technology. The company must employ two types of laborinputs: miners who blastrocks and muckers who remove the rocks in truckloads. Eachminermustbe pairedup with exactly onemucker and the two work asa team. Aminer sits idle if there is no mucker availableto work with him and viceversa. Ateam of one miner and onemucker produces ten tons of iron ore per day.So X teams (with one miner and onemuckerin each team) produce 10X tons ofiron ore perday. Miners and muckers are only two inputs used in the production process by US Iron & Steel Co. a. The table below reports different input combinations used by USIron &Steel Co. Fill out thelast column indicating the output corresponding to each of these input combinations. Given a brief justification for youranswer. b. Draw the isoquant for US Iron & Steel Co. for the output level 50 tons per day Technology Number ofminers(per day) Number ofmuckers(per day) Output(in tonsper day) A 2 2 B 5 2 C 5 7 D 6 6 E 9 11 Show less
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