Suppose That Irma's Production Function Is F(x 1 , X 2 )= (Min{x 1 , 3x 2 }) 1/2

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Suppose That Irma's Production Function Is F(x 1 , X 2 )= (Min{x 1 , 3x 2 }) 1/2

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Suppose That Irma's Production Function Is F(x₁, X₂)= (Min{x₁, 3x₂})^1/2

Question 14

Multiple Choice

suppose that Irma's production function is f(x₁, x₂) = (min{x₁, 3x₂}) ^1/2.If the price of factor 1 is w₁ = $2 and the price of factor 2 is w₂ = $15, then her supply function is given by the equation

A) S(p) = p/14.
B) S(p) = p(max{w₁, 3w₂}) ².
C) S(p) = p(min{w₁, 3w₂}) ².
D) S(p) = 7p.
E) S(p) = min{2p, 45p}.

Suppose That Irma's Production Function Is F(x1, X2)= (Min{x1, 3x2})1/2

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Suppose That Irma's Production Function Is F(x₁, X₂)= (Min{x₁, 3x₂})^1/2

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