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Suppose Andrew's production function for deer is f(x1, x2) = (2x1+x2)0.5 where x1 is the amount of plastic and x2 is the amount of wood
Suppose Andrew's production function for deer is f(x1, x2) = (2x1+x2)0.5 where x1 is the amount of plastic and x2 is the amount of wood used. The cost of plastic is $6 per unit (w1=$6) and the cost of wood is $1 per unit (w2=$1). Andrew wants to produce 5 deer. a) Which type of production technology does Andrew has? Explain your answer. What is the least costly way for the Andrew to produce 5 deer given his production above and the prices of inputs
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