Suppose That a Firm's Production Function Is Given by Q

Multiple Choice

Suppose that a firm's production function is given by Q = 1.23KL (MP_K = 1.23L and MP_L = 1.23K) , where Q is quantity of output, K is units of capital, and L is units of labor. The price per unit of labor and capital are $30 and $20, respectively. The minimum cost of producing 600 units of output is $____.

A) 2,160
B) 1,080
C) 960
D) 580