Suppose Pigs (P)can Be Fed Corn-Based Feed (C)or Soybean-Based Feed

question 31

Multiple Choice

Suppose pigs (P) can be fed corn-based feed (C) or soybean-based feed (S) such that the production function is P = 2C + 5S.If the price of corn feed is $2 and the price of soybean feed is $6,what is the cost-minimizing fee combination producing P = 200?

• A)C = 100
• B)S = 40
• C)C = 50,S = 20
• D)All points on the P = 200 isoquant would cost the same.

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