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Suppose That Nadine in Problem 1 Has a Production Function

Question 20

Multiple Choice

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

Correct Answer:

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