A profit-maximizing competitive firm uses just one input, x. Its production function is q = 4 . The price of output is $28 and the factor price is $7. The amount of the factor that the firm demands is
A)8
B)16
C)64
D)60
E) None of the above.

Question

A profit-maximizing competitive firm uses just one input, x. Its production function is q = 4  . The price of output is $28 and the factor price is $7. The amount of the factor that the firm demands is
A)8 
B)16 
C)64 
D)60 
E) None of the above.

Quizplus · Accepted Answer

The Answer of A profit-maximizing competitive firm uses just one input, x. Its production function is q = 4  . The price of output is $28 and the factor price is $7. The amount of the factor that the firm demands is
A)8 
B)16 
C)64 
D)60 
E) None of the above.

A Profit-Maximizing Competitive Firm Uses Just One Input, X