Cost - Micro Economics

[abhinav619]

The prices of inputs (x1; x2; x3; x4) are (4; 1; 3; 2).

(1) If the production function is given by f(x1, x2) = min{x1, x2}, what
is the minimum cost of producing one unit of output?

(2) If the production function is given by f(x3, x4) = x3 +x4, what is the
minimum cost of producing one unit of output?

(3) If the production function is given by f(x1, x2, x3, x4) = min{x1 +
x2, x3 + x4}, what is the minimum cost of producing one unit of output?

(4)If the production function is given by f(x1; x2) = min{x1; x2} +
min{x3; x4}, what is the minimum cost of producing one unit of output?

[Dreyfus]

1.) 5
2.) 2
3.)
4.) 1 ( not sure)

[abhinav619]

Answers are 5,2,3 and 5. Could you please explian ??

[Homer Simpson]

http://discussion-forum.2150183.n2.nabble.com/cost-doubt-tp7586063.html

[abhinav619]

Oh nice!! Thanks