Suppose That Nadine in Problem 1 Has a Production Function

question 15

Multiple Choice

Suppose that Nadine in Problem 1 has a production function 3x₁ + x₂. If the factor prices are $12 for factor 1 and $3 for factor 2, how much will it cost her to produce 20 units of output?

• A) $430
• B) $780
• C) $60
• D) $80
• E) $70

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