A Firm with the Production Function F (X1, X2, X3

question 51

Multiple Choice

A firm with the production function f (x1, x2, x3, x4) = min{x1, x2, x3, x4} faces input prices w1 = $1, w2 = $5,w3 =$5, w4 = $3 for factors 1, 2, 3, and 4.The firm must use at least 10 units of factor 2.The lowest cost at which it can produce 100 units of output is

• A)$800.
• B)$440.
• C)$1,400.
• D)$770.
• E)$400.

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