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Suppose that Company X has a production function 3x+y. If the factor prices are 9 for x and 4 for y, how much will it cost to produce 50 units of output?
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Q45: Mr. Inflexible's utility function is U(x<sub>1</sub>,x<sub>2</sub>)= min(x<sub>1</sub>,x<sub>2</sub>).
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