Al's production function for deer is f(x1, x2)= (2x1 + x2)1/2, where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $8 per unit and the cost of wood is $1 per unit, then the cost of producing 7 deer is

A) $49. B) $119. C) $196. D) $7. E) $28. A) $49. B) $119. C) $196. D) $7. E) $28. A

Al's production function for deer is f(x1, x2)= (2x1 + x2)1/2, where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $1 per unit, then the cost of producing 4 deer is

A) $32. B) $16. C) $36. D) $4. E) $8. A) $32. B) $16. C) $36. D) $4. E) $8.

Al's production function for deer is f(x1, x2)= (2x1 + x2)1/2, where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $3 per unit, then the cost of producing 5 deer is

A) $55. B) $10. C) $50. D) $75. E) $15. A) $55. B) $10. C) $50. D) $75. E) $15.

Exam 19: Cost Minimization-Part B

Explore all topics

the production function is f(L, M)= 4L^1/2 M^1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $25 per unit and the cost of machines is $64 per unit, then the total cost of producing 6 units of output will be

Free

(Multiple Choice)

4.8/5

(42)

Question 1

Correct Answer:

Verified

Al's production function for deer is f(x₁, x₂)= (2x₁ + x₂)^1/2, where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $8 per unit and the cost of wood is $1 per unit, then the cost of producing 7 deer is

Free

(Multiple Choice)

4.9/5

(42)

Question 2

Correct Answer:

Verified

Suppose that in the short run, the firm which has production function F(L, M)= 4L^1/2M^1/2 must use 9 machines.If the cost of labor is $10 per unit and the cost of machines is $4 per unit, the short-run total cost of producing 60 units of output is

Free

(Multiple Choice)

4.9/5

(38)

Question 3

Correct Answer:

Verified

Al's production function for deer is f(x₁, x₂)= (2x₁ + x₂)^1/2, where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $1 per unit, then the cost of producing 4 deer is

(Multiple Choice)

4.8/5

(36)

Question 4

suppose that a new alloy is invented which uses copper and zinc in fixed proportions where 1 unit of output requires 3 units of copper and 3 units of zinc for each unit of alloy produced.If no other inputs are needed, the price of copper is $3, and the price of zinc is $3, what is the average cost per unit when 4,000 units of the alloy are produced?

(Multiple Choice)

4.9/5

(30)

Question 5

the production function is f(L, M)= 4L^1/2 M^1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $9 per unit and the cost of machines is $81 per unit, then the total cost of producing 10 units of output will be

(Multiple Choice)

4.7/5

(40)

Question 6

Suppose that Nadine has a production function 4x₁ + x₂.If the factor prices are $4 for factor 1 and $2 for factor 2, how much will it cost her to produce 70 units of output?

(Multiple Choice)

4.8/5

(40)

Question 7

the production function is f(L, M)= 4L^1/2 M^1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $25 per unit, then the total cost of producing 7 units of output will be

(Multiple Choice)

4.9/5

(45)

Question 8

Two firms, Wickedly Efficient Widgets (WEW)and Wildly Nepotistic Widgets (WNW), both produce widgets with the same production function y = K^1/2L^1/2, where K is the input of capital and L is the input of labor.Each company can hire labor at $1 per unit and capital at $1 per unit.WEW produces 10 widgets per week, choosing its input combination so as to produce these 10 widgets in the cheapest way possible.WNW also produces 10 widgets per week, but its dotty CEO requires it to use twice as much labor as WEW uses.Given that it must use twice as many laborers as WEW does and must produce the same output, how much larger are WNW's total costs than WEW's?

(Multiple Choice)

4.9/5

(48)

Question 9

Al's production function for deer is f(x₁, x₂)= (2x₁ + x₂)^1/2, where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $3 per unit, then the cost of producing 5 deer is

(Multiple Choice)

4.7/5

(42)

Question 10

Suppose that in the short run, the firm which has production function F(L, M)= 4L^1/2M^1/2 must use 4 machines.If the cost of labor is $10 per unit and the cost of machines is $6 per unit, the short-run total cost of producing 64 units of output is

(Multiple Choice)

4.8/5

(29)

Question 11

the production function is f(L, M)= 4L^1/2 M^1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $36 per unit, then the total cost of producing 4 units of output will be

(Multiple Choice)

4.9/5

(43)

Question 12

Suppose that in the short run, the firm which has production function F(L, M)= 4L^1/2M^1/2 must use 9 machines.If the cost of labor is $5 per unit and the cost of machines is $6 per unit, the short-run total cost of producing 84 units of output is

(Multiple Choice)

4.8/5

(38)

Question 13

suppose that a new alloy is invented which uses copper and zinc in fixed proportions where 1 unit of output requires 5 units of copper and 3 units of zinc for each unit of alloy produced.If no other inputs are needed, the price of copper is $4, and the price of zinc is $2, what is the average cost per unit when 3,000 units of the alloy are produced?

(Multiple Choice)

4.9/5

(33)

Question 14

Suppose that Nadine 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?

(Multiple Choice)

4.8/5

(35)

Question 15

Suppose that Nadine 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?

(Multiple Choice)

4.9/5

(30)

Question 16

Suppose that Nadine has a production function 3x₁ +x₂.If the factor prices are $12 for factor 1 and $3 for factor 2, how much will it cost her to produce 20 units of output?

(Multiple Choice)

4.8/5

(32)

Question 17

suppose that a new alloy is invented which uses copper and zinc in fixed proportions where 1 unit of output requires 3 units of copper and 4 units of zinc for each unit of alloy produced.If no other inputs are needed, the price of copper is $2, and the price of zinc is $3, what is the average cost per unit when 3,000 units of the alloy are produced?

(Multiple Choice)

4.7/5

(31)

Question 18

Suppose that in the short run, the firm which has production function F(L, M)=4L^1/2M^1/2 must use 9 machines.If the cost of labor is $5 per unit and the cost of machines is $5 per unit, the short-run total cost of producing 108 units of output is

(Multiple Choice)

4.8/5

(29)

Question 19

Suppose that in the short run, the firm which has production function F(L, M)= 4L^1/2M^1/2 must use 9 machines.If the cost of labor is $7 per unit and the cost of machines is $9 per unit, the short-run total cost of producing 96 units of output is

(Multiple Choice)

5.0/5

(27)

Question 20

Showing 1 - 20 of 26

Exam 19: Cost Minimization-Part B

the production function is f(L, M)= 4L1/2 M1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $25 per unit and the cost of machines is $64 per unit, then the total cost of producing 6 units of output will be

Al's production function for deer is f(x1, x2)= (2x1 + x2)1/2, where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $8 per unit and the cost of wood is $1 per unit, then the cost of producing 7 deer is

Suppose that in the short run, the firm which has production function F(L, M)= 4L1/2M1/2 must use 9 machines.If the cost of labor is $10 per unit and the cost of machines is $4 per unit, the short-run total cost of producing 60 units of output is

Al's production function for deer is f(x1, x2)= (2x1 + x2)1/2, where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $1 per unit, then the cost of producing 4 deer is

the production function is f(L, M)= 4L1/2 M1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $9 per unit and the cost of machines is $81 per unit, then the total cost of producing 10 units of output will be

Suppose that Nadine has a production function 4x1 + x2.If the factor prices are $4 for factor 1 and $2 for factor 2, how much will it cost her to produce 70 units of output?

the production function is f(L, M)= 4L1/2 M1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $25 per unit, then the total cost of producing 7 units of output will be

Al's production function for deer is f(x1, x2)= (2x1 + x2)1/2, where x1 is the amount of plastic and x2 is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $3 per unit, then the cost of producing 5 deer is

Suppose that in the short run, the firm which has production function F(L, M)= 4L1/2M1/2 must use 4 machines.If the cost of labor is $10 per unit and the cost of machines is $6 per unit, the short-run total cost of producing 64 units of output is

the production function is f(L, M)= 4L1/2 M1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $36 per unit, then the total cost of producing 4 units of output will be

Suppose that in the short run, the firm which has production function F(L, M)= 4L1/2M1/2 must use 9 machines.If the cost of labor is $5 per unit and the cost of machines is $6 per unit, the short-run total cost of producing 84 units of output is

Suppose that Nadine 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?

Suppose that Nadine 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?

Suppose that Nadine has a production function 3x1 +x2.If the factor prices are $12 for factor 1 and $3 for factor 2, how much will it cost her to produce 20 units of output?

Suppose that in the short run, the firm which has production function F(L, M)=4L1/2M1/2 must use 9 machines.If the cost of labor is $5 per unit and the cost of machines is $5 per unit, the short-run total cost of producing 108 units of output is

Suppose that in the short run, the firm which has production function F(L, M)= 4L1/2M1/2 must use 9 machines.If the cost of labor is $7 per unit and the cost of machines is $9 per unit, the short-run total cost of producing 96 units of output is

Budget Constraint-Part A

Budget Constraint-Part B

Preferences-Part A

Preferences-Part B

Utility-Part A

Utility-Part B

Choice-Part A

Choice-Part B

Demand-Part A

Demand-Part B

Revealed Preference-Part A

Revealed Preference-Part B

Slutsky Equation-Part A

Slutsky Equation-Part B

Buying and Selling-Part A

Buying and Selling-Part B

Intertemporal Choice-Part A

Intertemporal Choice-Part B

Asset Markets-Part A

Asset Markets-Part B

Uncertainty-Part A

Uncertainty-Part B

Risky Assets-Part A

Risky Assets-Part B

Consumers Surplus-Part A

Consumers Surplus-Part B

Market Demand-Part A

Market Demand-Part B

Equilibrium-Part A

Equilibrium-Part B

Auctions-Part A

Auctions-Part B

Technology-Part A

Technology-Part B

Profit Maximization-Part A

Profit Maximization-Part B

Cost Minimization-Part A

Cost Curves-Part A

Cost Curves-Part B

Firm Supply-Part A

Firm Supply-Part B

Industry Supply-Part A

Industry Supply-Part B

Monopoly-Part A

Monopoly-Part B

Monopoly Behavior-Part A

Monopoly Behavior-Part B

Factor Markets-Part A

Factor Markets-Part B

Oligopoly-Part A

Oligopoly-Part B

Game Theory-Part A

Game Theory-Part B

Game Applications-Part A

Game Applications-Part B

Behavioral Economics

Exchange-Part A

Exchange-Part B

Production-Part A

Production-Part B

Welfare-Part A

Welfare-Part B

Externalities-Part A

the production function is f(L, M)= 4L^1/2 M^1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $25 per unit and the cost of machines is $64 per unit, then the total cost of producing 6 units of output will be

Al's production function for deer is f(x₁, x₂)= (2x₁ + x₂)^1/2, where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $8 per unit and the cost of wood is $1 per unit, then the cost of producing 7 deer is

Suppose that in the short run, the firm which has production function F(L, M)= 4L^1/2M^1/2 must use 9 machines.If the cost of labor is $10 per unit and the cost of machines is $4 per unit, the short-run total cost of producing 60 units of output is

Al's production function for deer is f(x₁, x₂)= (2x₁ + x₂)^1/2, where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $1 per unit, then the cost of producing 4 deer is

the production function is f(L, M)= 4L^1/2 M^1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $9 per unit and the cost of machines is $81 per unit, then the total cost of producing 10 units of output will be

Suppose that Nadine has a production function 4x₁ + x₂.If the factor prices are $4 for factor 1 and $2 for factor 2, how much will it cost her to produce 70 units of output?

the production function is f(L, M)= 4L^1/2 M^1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $25 per unit, then the total cost of producing 7 units of output will be

Al's production function for deer is f(x₁, x₂)= (2x₁ + x₂)^1/2, where x₁ is the amount of plastic and x₂ is the amount of wood used.If the cost of plastic is $4 per unit and the cost of wood is $3 per unit, then the cost of producing 5 deer is

Suppose that in the short run, the firm which has production function F(L, M)= 4L^1/2M^1/2 must use 4 machines.If the cost of labor is $10 per unit and the cost of machines is $6 per unit, the short-run total cost of producing 64 units of output is

the production function is f(L, M)= 4L^1/2 M^1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $36 per unit, then the total cost of producing 4 units of output will be

Suppose that in the short run, the firm which has production function F(L, M)= 4L^1/2M^1/2 must use 9 machines.If the cost of labor is $5 per unit and the cost of machines is $6 per unit, the short-run total cost of producing 84 units of output is

Suppose that Nadine 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?

Suppose that Nadine 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?

Suppose that Nadine has a production function 3x₁ +x₂.If the factor prices are $12 for factor 1 and $3 for factor 2, how much will it cost her to produce 20 units of output?

Suppose that in the short run, the firm which has production function F(L, M)=4L^1/2M^1/2 must use 9 machines.If the cost of labor is $5 per unit and the cost of machines is $5 per unit, the short-run total cost of producing 108 units of output is

Suppose that in the short run, the firm which has production function F(L, M)= 4L^1/2M^1/2 must use 9 machines.If the cost of labor is $7 per unit and the cost of machines is $9 per unit, the short-run total cost of producing 96 units of output is