A Firm with the Production Function F (X1, X2, X3

question 76

Multiple Choice

A firm with the production function f (x1, x2, x3, x4) =min{x1, x2, x3, x4} faces input prices w1 = $1, w2 = $2,w3 = $2, w4 = $5 for factors 1, 2, 3, and 4. The firm must use at least 17 units of factor 2. The lowest cost at which it can produce 100 units of output is

• A) $1,000.
• B) $400.
• C) $317.
• D) $615.
• E) $300.

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