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:

Moral Intuitions

Immediate, gut-level judgments regarding the rightness or wrongness of an action, without reliance on explicit reasoning.

Simple Equality

The concept that two quantities are the same in value or amount, often represented mathematically as an equation.

Preconventional Morality

The first level of Kohlberg's theory of moral development, where moral reasoning is based primarily on consequences and personal benefits.

Postconventional Morality

A stage of moral development in which individuals reason based on personal principles and values that may differ from societal norms.