Suppose That Nadine in Problem 1 Has a Production Function

question 8

Multiple Choice

Suppose that Nadine in Problem 1 has a production function 4x₁ + x₂. If the factor prices are $4 for factor 1 and $2 for factor 2, how much will it cost her to produce 70 units of output?

• A) $700
• B) $1,260
• C) $140
• D) $70
• E) $105

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Definitions:

Death Rate

The number of deaths in a particular population, scaled to the size of that population, per unit of time.

Household Slavery

A form of slavery where enslaved individuals work primarily in the slave-owner's household, performing domestic tasks.

Civilized

Often used to describe societies that have developed complex institutions, urban development, technological advancements, and cultural practices considered advanced or refined.

Savage

A term historically used to describe a person regarded as primitive or uncivilized, now considered offensive and outdated.