A Firm Has Production Function F (X1, X2, X3, X4)=

question 52

Multiple Choice

A firm has production function f (x1, x2, x3, x4) = min{x1, x2} + min{x3, x4}.This firm faces competitive factor markets where the prices for the four factors are w1 = $7, w2 = $8, w3 = $6, and w4 = $5.The firm must use at least 20 units of factor 2.The cost of producing 100 units in the cheapest possible way is

• A)$1,400.
• B)$1,200.
• C)$1,340.
• D)$1,180.
• E)$500.

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Definitions:

Loop Of Henle

A U-shaped section of the nephron in the kidney that plays a crucial role in concentrating urine and conserving water.

Medulla

The innermost part of an organ or structure, especially the medulla oblongata of the brain or the marrow in bones.

Permeable

Allowing liquids or gases to pass through it, often referring to materials or membranes.

Urobilinogenuria

A condition characterized by an increased level of urobilinogen in the urine, which may indicate liver dysfunction or hemolytic disease.