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:

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The numerical or categorical information that is visualized through a chart to represent patterns, trends, or relationships.

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In a direction or alignment from left to right or right to left, parallel to the horizon.

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