Suppose pigs (P) can be fed corn-based feed (C) or soybean-based feed (S) such that the productionfunction is P = 2C + 55. If the price of corn feed is $2 and the price of soybean feed is $6, what is the costminimizing combination of producing P= 200?a. C= 100b. S= 40C C = 50, S = 20

Suppose pigs (P) can be fed corn-based feed (C) or soybean-based feed (S) such that the production function is P = 2C + 5S. If the price of corn feed is $2 and the price of soybean feed is $6, what is the cost minimizing combination of producing P = 200? а. С- 100 b. S= 40 C. C = 50, S = 20

Suppose pigs (P) can be fed corn-based feed (C) or soybean-based feed (S) such that the production function is P = 2C + 5S. If the price of corn feed is $2 and the price of soybean feed is $6, what is the cost minimizing combination of producing P = 200? а. С- 100 b. S= 40 C. C = 50, S = 20

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

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Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose pigs (P) can be fed corn-based feed (C) or soybean-based feed (S) such that the production
function is P = 2C + 55. If the price of corn feed is $2 and the price of soybean feed is $6, what is the cost
minimizing combination of producing P= 200?
a. C= 100
b. S= 40
C C = 50, S = 20

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