Suppose That Nadine Has a Production Function 4x₁

question 7

Multiple Choice

Suppose that Nadine 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:

Whisky Consumption

Whisky Consumption refers to the amount of whisky that is consumed over a certain period, often considered in economic studies of consumer behavior and market demand.

Gallons

A unit of volume used primarily in the United States to measure liquids.

Whisky Consumption

The act of drinking whisky as a means of enjoyment or recreation.

Gallons

A unit of volume used primarily in the United States to measure liquids and gases.