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 $4 and corn feed is on the horizontal axis, and the price of soybean feed is $5 and soybean feed lies on the vertical axis, what is expansion path? a. the horizontal axis Ob. C=5S/2 Oc. S=2C/5 d. the vertical axis

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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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 $4 and corn feed is on the
horizontal axis, and the price of soybean feed is $5 and soybean feed lies on the vertical axis,
what is expansion path?
the horizontal axis
Oa.
Ob.
Oc. S=2C/5
C.
d.
C=5S/2
the vertical axis
Transcribed Image Text: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 $4 and corn feed is on the horizontal axis, and the price of soybean feed is $5 and soybean feed lies on the vertical axis, what is expansion path? the horizontal axis Oa. Ob. Oc. S=2C/5 C. d. C=5S/2 the vertical axis
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