Nadine Has a Production Function 4x1 + X2

question 37

Multiple Choice

Nadine has a production function 4x1 + x2.If the factor prices are $12 for factor 1 and $2 for factor 2, how much will it cost her to produce 30 units of output?

• A)$795
• B)$60
• C)$90
• D)$1,500
• E)$75

Identify desirable skills and personal qualities in employees and how they relate to job performance.

Acquire knowledge on the proper steps for checking and editing job application materials.

Learn the dos and don'ts in job application and interview processes.

Understand strategies for making a positive impression during job interviews and applications.

---

Definitions:

Indifference Curves

Graphs representing combinations of different goods that provide an individual with the same level of satisfaction, showing consumer preferences.

Total Utility

The cumulative satisfaction or value that a person derives from consuming a certain quantity of goods or services.

Indifference Curve

A graph showing combinations of goods between which a consumer is indifferent, representing equal levels of satisfaction.

Convex

In economics, a shape of the curve describing a relationship that yields increasing returns or benefits, where the slope increases as you move from left to right.