Suppose That Nadine Has a Production Function 4x₁

question 23

Multiple Choice

Suppose that 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 50 units of output?

• A)$100
• B)$2,500
• C)$150
• D)$1,325
• E)$125

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Definitions:

Tenant Paid

A term indicating that a tenant is responsible for certain payments, such as utilities or maintenance fees, in addition to rent.

Supplies Used

This term refers to the amount of supplies that have been consumed or utilized during a specific period in business operations.

Adjustment

A modification made to rectify the balance of an account, to reflect accrued expenses or revenues, or to correct errors.

Balance Sheet

An accounting summary showing the assets, liabilities, and owner's equity of a company on a given date.