Multiple Choice
A firm with the production function f (x1, x2, x3, x4) = min{x1, x2, x3, x4} faces input prices w1 = $1, w2 = $5,w3 =$5, w4 = $3 for factors 1, 2, 3, and 4.The firm must use at least 10 units of factor 2.The lowest cost at which it can produce 100 units of output is
A) $800.
B) $440.
C) $1,400.
D) $770.
E) $400.
Correct Answer:
Verified
Correct Answer:
Verified
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