Suppose That Nadine in Problem 1 Has a Production Function

question 26

Multiple Choice

Suppose that Nadine in Problem 1 has a production function 3x₁ + x₂. If the factor prices are $3 for factor 1 and $3 for factor 2, how much will it cost her to produce 80 units of output?

• A) $960
• B) $80
• C) $240
• D) $600
• E) $160

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Definitions:

Care Perspective

The emphasis in moral development on context and relationships.

Moral Development

The process through which individuals develop proper attitudes and behaviors toward other people in society, based on social and cultural norms, laws, and personal beliefs.

Death Penalty

A legal punishment where an individual is executed by the state as retribution for a crime deemed sufficiently severe.

Morality

A system of beliefs, values, and principles that guides and determines acceptable behavior in society.