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In Problem 9, Suppose That Irma's Production Function Is F(x1

Question 7

Multiple Choice

In Problem 9, suppose that Irma's production function is f(x1, x2) In Problem 9, suppose that Irma's production function is f(x<sub>1</sub>, x<sub>2</sub>) . If the price of factor 1 is w<sub>1</sub> = $5 and the price of factor 2 is w<sub>2</sub> = $15, then her supply function is given by the equation A) S(p) = p(max{w<sub>1</sub>, 3w<sub>2</sub>} ) <sup>2</sup>. B) S(p) = p(min{w<sub>1</sub>, 3w<sub>2</sub>} ) <sup>2</sup>. C) S(p) = 10p. D) S(p) =. E) S(p) = min{ 5p, 45p}. . If the price of factor 1 is w1 = $5 and the price of factor 2 is w2 = $15, then her supply function is given by the equation


A) S(p) = p(max{w1, 3w2} ) 2.
B) S(p) = p(min{w1, 3w2} ) 2.
C) S(p) = 10p.
D) S(p) =.
E) S(p) = min{ 5p, 45p}.

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