The cost minimizing combination of beans and water

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Reference no: EM13833537

Suppose the production function for coffee (C) is C = min(B,W) where B = beans in pounds and W = water in gallons and the price of water is $.10 per gallon and the price of beans is $10 per pound. the cost minimizing combination of beans and water for C = 200 is

a. B = 200, W = 2000

b. B = 2000, W = 200

c. B = 100, W = 100

d. B = 200, W = 200

Reference no: EM13833537

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