Cost-Minimizing Combination of Labor and Capital

10. The Costs of Production / Cost-Minimizing Combination of Labor and Capital / Problem 8

Problem 8

Spooky Cookies needs to produce 5,000 cookies. If ovens cost \$6,000 per month and bakers cost \$3,000 per month, what is the cost-minimizing combination of ovens and bakers?

4 ovens and 2 bakers.

2 ovens and 4 bakers.

1 oven and 5 bakers.

3 ovens and 3 bakers.