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16. An orange grower has discovered a process for producing oranges that requires two inputs. The production function is Q = min{2x1, X2}, where x1

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16. An orange grower has discovered a process for producing oranges that requires two inputs. The production function is Q = min{2x1, X2}, where x1 and x2 are the amounts of inputs 1 and 2 that he uses. The prices of these two inputs are w1 = $5 and w2 = $10, respectively. The minimum cost of producing 160 units is therefore (a) a. $2,000. b. $2,400. c. $800. d. $8,000. e. $1.600

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