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

question 39

Multiple Choice

A firm has production function f (x1, x2, x3, x4) = min{1, x2} +min{x3, x4}.This firm faces competitive factor markets where the prices for the four factors are w1 = $4, w2 = $8, w3 = $5, and w4 = $3.The firm must use at least 20 units of factor 2.The cost of producing 100 units in the cheapest possible way is

• A)$700.
• B)$1,040.
• C)$880.
• D)$1,300.
• E)$300.

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