Suppose That Nadine Has a Production Function 3x₁

question 15

Multiple Choice

Suppose that Nadine 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:

Strategic Business Units

An autonomous division within a larger parent company that focuses on a specific market sector or product line.

Market Share Opportunities

Potential avenues for a business to increase its proportion of total sales in a particular market compared to its competitors.

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A marketing strategy where a company markets its product or service to all potential consumers in the same way, without segmentation.

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