Use the following to answer questions :
Figure 7A-2
-In Figure 7A-2, assuming that the price of inputs are equal and that doubling all inputs doubles output, what is the lowest possible cost to produce Q = 150?
A)$12
B)$16
C)$18
D)$24
E)None of the above.

Question

Use the following to answer questions :
Figure 7A-2 
-In Figure 7A-2, assuming that the price of inputs are equal and that doubling all inputs doubles output, what is the lowest possible cost to produce Q = 150?
A)$12 
B)$16 
C)$18 
D)$24 
E)None of the above.

Quizplus · Accepted Answer

Doubling all inputs doubles output, so the lowest possible cost to produce Q = 150 is $12.

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