True/False

A firm faces a wage of £10 per worker and a coal price of £5 per ton. To produce a certain amount of output, the firm can use one of two methods: Method X, which requires 4 workers and 2 tons of coal, or Method Y, which requires 1 worker and 6 tons of coal. In this scenario, Method X is the least-cost option.

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Updated 2025-09-18

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