In Problem 3, the Production Function Is F(L, M)

In Problem 3, the production function is f(L, M) , where L is the number of units of labor and M is the number of machines used. If the cost of labor is $100 per unit and the cost of machines is $16 per unit, then the total cost of producing 7 units of output will be

A) $140.
B) $406.
C) $112.
D) $280.
E) None of the above.

Correct Answer:

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