A competitive firm's production function is f(x1, x2) = 12x1/21 + 4x1/22.The price of factor 1 is $1 and the price of factor 2 is $2.The price of output is $4.What is the profit-maximizing quantity of output?
A) 304
B) 608
C) 300
D) 612
E) 292
Correct Answer:
Verified
Q16: If the value of the marginal product
Q17: A competitive firm produces a single output
Q18: If the price of the output of
Q19: Just as in the theory of utility-maximizing
Q20: A firm produces one output with one
Q22: A competitive firm's production function is f(x1,
Q23: The production function is given by F(L)=
Q24: The production function is f(x1, x2)=x1/21x1/22.If the
Q25: The production function is given by f(x)=4x1/2.If
Q26: The production function is given by f(x)=4x1/2.If
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents