If a Firm's Production Function Is F(z₁,z₂)= Z₁ + Z₂

question 61

Multiple Choice

If a firm's production function is f(z₁,z₂) = z₁ + z₂, its minimum cost of producing y units of output is:

• A)y min(w₁,w₂).
• B)y(w₁ + w₂)/2.
• C)y(w₁ + w₂).
• D)yw₁ if w₁ < w₂.

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Definitions:

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Contrast Error

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Nonrelevancy Error

An error made during the employee appraisal process where information irrelevant to job performance influences the evaluation.

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