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Suppose That Nadine in Problem 1 Has a Production Function

Question 26

Multiple Choice

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

Correct Answer:

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