Suppose that Nadine in Problem 1 has a production function 3x1 + x2.If the factor prices are $3 for factor 1 and $3 for factor 2,how much will it cost her to produce 80 units of output?

A) $960 B) $80 C) $240 D) $600 E) $160 A) $960 B) $80 C) $240 D) $600 E) $160 B

Suppose that Nadine in Problem 1 has a production function 4x1 + x2.If the factor prices are $4 for factor 1 and $2 for factor 2,how much will it cost her to produce 70 units of output?

A) $700 B) $1,260 C) $140 D) $70 E) $105 A) $700 B) $1,260 C) $140 D) $70 E) $105

Suppose that Nadine in Problem 1 has a production function 3x1 +x2.If the factor prices are $12 for factor 1 and $3 for factor 2,how much will it cost her to produce 20 units of output?

A) $430 B) $780 C) $60 D) $80 E) $70 A) $430 B) $780 C) $60 D) $80 E) $70

In Problem 12,Al's production function for deer is f(x1,x2)=(2x1 +x2)1/2,where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $3 per unit,then the cost of producing 5 deer is

A) $55. B) $10. C) $50. D) $75. E) $15. A) $55. B) $10. C) $50. D) $75. E) $15.

In Problem 12,Al's production function for deer is f(x1,x2)=(2x1 + x2)1/2,where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $8 per unit and the cost of wood is $1 per unit,then the cost of producing 7 deer is

A) $49. B) $119. C) $196. D) $7. E) $28. A) $49. B) $119. C) $196. D) $7. E) $28.

Suppose that Nadine in Problem 1 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 A) $100 B) $2,500 C) $150 D) $1,325 E) $125

In Problem 12,Al's production function for deer is f(x1,x2)=(2x1 + x2)1/2,where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $4 per unit,then the cost of producing 8 deer is

A) $16. B) $96. C) $256. D) $128. E) $32. A) $16. B) $96. C) $256. D) $128. E) $32.

Suppose that Nadine in Problem 1 has a production function 5x1 + x2.If the factor prices are $10 for factor 1 and $3 for factor 2,how much will it cost her to produce 70 units of output?

A) $1,960 B) $3,710 C) $140 D) $210 E) $175 A) $1,960 B) $3,710 C) $140 D) $210 E) $175

Exam 21:Cost Minimization-Part B

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L^1/2M^1/2 must use 4 machines.If the cost of labor is $10 per unit and the cost of machines is $6 per unit,the short-run total cost of producing 64 units of output is

Free

(Multiple Choice)

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Question 1

Correct Answer:

Verified

Suppose that Nadine in Problem 1 has a production function 3x₁ + x₂.If the factor prices are $3 for factor 1 and $3 for factor 2,how much will it cost her to produce 80 units of output?

Free

(Multiple Choice)

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Question 2

Correct Answer:

Verified

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L^1/2M^1/2 must use 9 machines.If the cost of labor is $5 per unit and the cost of machines is $6 per unit,the short-run total cost of producing 84 units of output is

Free

(Multiple Choice)

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Question 3

Correct Answer:

Verified

In Problem 2,suppose that a new alloy is invented which uses copper and zinc in fixed proportions where 1 unit of output requires 3 units of copper and 3 units of zinc for each unit of alloy produced.If no other inputs are needed,the price of copper is $4,and the price of zinc is $5,what is the average cost per unit when 4,000 units of the alloy are produced?

(Multiple Choice)

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Question 4

Suppose that Nadine in Problem 1 has a production function 4x₁ + x₂.If the factor prices are $4 for factor 1 and $2 for factor 2,how much will it cost her to produce 70 units of output?

(Multiple Choice)

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Question 5

In Problem 2,suppose that a new alloy is invented which uses copper and zinc in fixed proportions where 1 unit of output requires 4 units of copper and 4 units of zinc for each unit of alloy produced.If no other inputs are needed,the price of copper is $5,and the price of zinc is $2,what is the average cost per unit when 2,000 units of the alloy are produced?

(Multiple Choice)

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Question 6

In Problem 3,the production function is f(L,M)= 4L^1/2 M^1/2,where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $25 per unit,then the total cost of producing 7 units of output will be

(Multiple Choice)

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Question 7

Suppose that Nadine in Problem 1 has a production function 3x₁ +x₂.If the factor prices are $12 for factor 1 and $3 for factor 2,how much will it cost her to produce 20 units of output?

(Multiple Choice)

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Question 8

In Problem 12,Al's production function for deer is f(x₁,x₂)=(2x₁ +x₂)^1/2,where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $3 per unit,then the cost of producing 5 deer is

(Multiple Choice)

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(78)

Question 9

In Problem 3,the production function is f(L,M)= 4L^1/2 M^1/2,where L is the number of units of labor and M is the number of machines used.If the cost of labor is $9 per unit and the cost of machines is $81 per unit,then the total cost of producing 10 units of output will be

(Multiple Choice)

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Question 10

In Problem 12,Al's production function for deer is f(x₁,x₂)=(2x₁ + x₂)^1/2,where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $8 per unit and the cost of wood is $1 per unit,then the cost of producing 7 deer is

(Multiple Choice)

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(80)

Question 11

In Problem 2,suppose that a new alloy is invented which uses copper and zinc in fixed proportions where 1 unit of output requires 3 units of copper and 3 units of zinc for each unit of alloy produced.If no other inputs are needed,the price of copper is $3,and the price of zinc is $3,what is the average cost per unit when 4,000 units of the alloy are produced?

(Multiple Choice)

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(66)

Question 12

In Problem 2,suppose that a new alloy is invented which uses copper and zinc in fixed proportions where 1 unit of output requires 3 units of copper and 4 units of zinc for each unit of alloy produced.If no other inputs are needed,the price of copper is $2,and the price of zinc is $3,what is the average cost per unit when 3,000 units of the alloy are produced?

(Multiple Choice)

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Question 13

Suppose that Nadine in Problem 1 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?

(Multiple Choice)

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Question 14

In Problem 12,Al's production function for deer is f(x₁,x₂)=(2x₁ + x₂)^1/2,where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $4 per unit,then the cost of producing 8 deer is

(Multiple Choice)

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(69)

Question 15

In Problem 3,the production function is f(L,M)=4L^1/2 M^1/2,where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $36 per unit,then the total cost of producing 4 units of output will be

(Multiple Choice)

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(86)

Question 16

In Problem 2,suppose that a new alloy is invented which uses copper and zinc in fixed proportions where 1 unit of output requires 5 units of copper and 3 units of zinc for each unit of alloy produced.If no other inputs are needed,the price of copper is $4,and the price of zinc is $2,what is the average cost per unit when 3,000 units of the alloy are produced?

(Multiple Choice)

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(64)

Question 17

Suppose that Nadine in Problem 1 has a production function 5x₁ + x₂.If the factor prices are $10 for factor 1 and $3 for factor 2,how much will it cost her to produce 70 units of output?

(Multiple Choice)

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Question 18

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L^1/2M^1/2 must use 9 machines.If the cost of labor is $7 per unit and the cost of machines is $9 per unit,the short-run total cost of producing 96 units of output is

(Multiple Choice)

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Question 19

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L^1/2M^1/2 must use 9 machines.If the cost of labor is $10 per unit and the cost of machines is $4 per unit,the short-run total cost of producing 60 units of output is

(Multiple Choice)

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(78)

Question 20

Showing 1 - 20 of 26

Exam 21:Cost Minimization-Part B

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L1/2M1/2 must use 4 machines.If the cost of labor is $10 per unit and the cost of machines is $6 per unit,the short-run total cost of producing 64 units of output is

Suppose that Nadine in Problem 1 has a production function 3x1 + x2.If the factor prices are $3 for factor 1 and $3 for factor 2,how much will it cost her to produce 80 units of output?

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L1/2M1/2 must use 9 machines.If the cost of labor is $5 per unit and the cost of machines is $6 per unit,the short-run total cost of producing 84 units of output is

Suppose that Nadine in Problem 1 has a production function 4x1 + x2.If the factor prices are $4 for factor 1 and $2 for factor 2,how much will it cost her to produce 70 units of output?

In Problem 3,the production function is f(L,M)= 4L1/2 M1/2,where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $25 per unit,then the total cost of producing 7 units of output will be

Suppose that Nadine in Problem 1 has a production function 3x1 +x2.If the factor prices are $12 for factor 1 and $3 for factor 2,how much will it cost her to produce 20 units of output?

In Problem 12,Al's production function for deer is f(x1,x2)=(2x1 +x2)1/2,where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $3 per unit,then the cost of producing 5 deer is

In Problem 3,the production function is f(L,M)= 4L1/2 M1/2,where L is the number of units of labor and M is the number of machines used.If the cost of labor is $9 per unit and the cost of machines is $81 per unit,then the total cost of producing 10 units of output will be

In Problem 12,Al's production function for deer is f(x1,x2)=(2x1 + x2)1/2,where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $8 per unit and the cost of wood is $1 per unit,then the cost of producing 7 deer is

Suppose that Nadine in Problem 1 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?

In Problem 12,Al's production function for deer is f(x1,x2)=(2x1 + x2)1/2,where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $4 per unit,then the cost of producing 8 deer is

In Problem 3,the production function is f(L,M)=4L1/2 M1/2,where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $36 per unit,then the total cost of producing 4 units of output will be

Suppose that Nadine in Problem 1 has a production function 5x1 + x2.If the factor prices are $10 for factor 1 and $3 for factor 2,how much will it cost her to produce 70 units of output?

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L1/2M1/2 must use 9 machines.If the cost of labor is $7 per unit and the cost of machines is $9 per unit,the short-run total cost of producing 96 units of output is

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L1/2M1/2 must use 9 machines.If the cost of labor is $10 per unit and the cost of machines is $4 per unit,the short-run total cost of producing 60 units of output is

Demand-Part A

Revealed Preference-Part A

Revealed Preference-Part B

Slutsky Equation-Part A

Slutsky Equation-Part B

Buying and Selling-Part A

Buying and Selling-Part B

Intertemporal Choice-Part A

Intertemporal Choice-Part B

Asset Markets-Part A

Asset Markets-Part B

Uncertainty-Part A

Uncertainty-Part B

Risky Assets-Part A

Risky Assets-Part B

Consumers Surplus-Part A

Consumers Surplus-Part B

Market Demand-Part A

Market Demand-Part B

Equilibrium-Part A

Equilibrium-Part B

Auctions-Part A

Auctions-Part B

Technology-Part A

Technology-Part B

Profit Maximization-Part A

Profit Maximization-Part B

Cost Minimization-Part A

Cost Curves-Part A

Cost Curves-Part B

Firm Supply-Part A

Firm Supply-Part B

Industry Supply-Part A

Industry Supply-Part B

Monopoly-Part A

Monopoly-Part B

Monopoly Behavior-Part A

Monopoly Behavior-Part B

Factor Markets-Part A

Factor Markets-Part B

Oligopoly-Part A

Oligopoly-Part B

Game Theory-Part A

Game Theory-Part B

Game Applications-Part A

Game Applications-Part B

Behavioral Economics-Part A

Exchange-Part A

Exchange-Part B

Production-Part A

Production-Part B

Welfare-Part A

Welfare-Part B

Externalities-Part A

Externalities-Part B

Information Technology-Part A

Information Technology-Part B

Public Goods-Part A

Public Goods-Part B

Asymmetric Information-Part A

Asymmetric Information-Part B

Filters

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L^1/2M^1/2 must use 4 machines.If the cost of labor is $10 per unit and the cost of machines is $6 per unit,the short-run total cost of producing 64 units of output is

Suppose that Nadine in Problem 1 has a production function 3x₁ + x₂.If the factor prices are $3 for factor 1 and $3 for factor 2,how much will it cost her to produce 80 units of output?

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L^1/2M^1/2 must use 9 machines.If the cost of labor is $5 per unit and the cost of machines is $6 per unit,the short-run total cost of producing 84 units of output is

Suppose that Nadine in Problem 1 has a production function 4x₁ + x₂.If the factor prices are $4 for factor 1 and $2 for factor 2,how much will it cost her to produce 70 units of output?

In Problem 3,the production function is f(L,M)= 4L^1/2 M^1/2,where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $25 per unit,then the total cost of producing 7 units of output will be

Suppose that Nadine in Problem 1 has a production function 3x₁ +x₂.If the factor prices are $12 for factor 1 and $3 for factor 2,how much will it cost her to produce 20 units of output?

In Problem 12,Al's production function for deer is f(x₁,x₂)=(2x₁ +x₂)^1/2,where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $3 per unit,then the cost of producing 5 deer is

In Problem 3,the production function is f(L,M)= 4L^1/2 M^1/2,where L is the number of units of labor and M is the number of machines used.If the cost of labor is $9 per unit and the cost of machines is $81 per unit,then the total cost of producing 10 units of output will be

In Problem 12,Al's production function for deer is f(x₁,x₂)=(2x₁ + x₂)^1/2,where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $8 per unit and the cost of wood is $1 per unit,then the cost of producing 7 deer is

Suppose that Nadine in Problem 1 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?

In Problem 12,Al's production function for deer is f(x₁,x₂)=(2x₁ + x₂)^1/2,where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $4 per unit,then the cost of producing 8 deer is

In Problem 3,the production function is f(L,M)=4L^1/2 M^1/2,where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $36 per unit,then the total cost of producing 4 units of output will be

Suppose that Nadine in Problem 1 has a production function 5x₁ + x₂.If the factor prices are $10 for factor 1 and $3 for factor 2,how much will it cost her to produce 70 units of output?

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L^1/2M^1/2 must use 9 machines.If the cost of labor is $7 per unit and the cost of machines is $9 per unit,the short-run total cost of producing 96 units of output is

Suppose that in the short run,the firm in Problem 3 which has production function F(L,M)=4L^1/2M^1/2 must use 9 machines.If the cost of labor is $10 per unit and the cost of machines is $4 per unit,the short-run total cost of producing 60 units of output is