Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) General Knowledge Economy

Consider a production function q = x + y, where x and y are the 2 inputs. If the respective input prices are wx and wy and assume wx > wy. Then the cost function C(q) is: 

1
C(q) = wxq
2
C(q) = wyq
3
C(q) = (wy + wy)q
4
C(q) = min{wx, wyl√q
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