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Time left 0:57:25 Question 2 Not yet answered Marked out of 5.00 PFlag question A firm in the Caribbean produces a product using a single input in its production function. The function is given as f(x) = 8x1/2, where x is the number of units of input. The sale price of the product is $150 per item and the input costs $75 per unit. - What is the profit-maximizing ambunt of input and its resulting maximum profit? Select one: O a. (x=16, max π= $3,600) O b. None of the above Oc. (x=9, max π=$2,925) O d. (x=64, max π=$4,800) Previous page Next page

Time left 0:57:25 Question 2 Not yet answered Marked out of 5.00 PFlag question A firm in the Caribbean produces a product using a single input in its production function. The function is given as f(x) = 8x1/2, where x is the number of units of input. The sale price of the product is $150 per item and the input costs $75 per unit. - What is the profit-maximizing ambunt of input and its resulting maximum profit? Select one: O a. (x=16, max π= $3,600) O b. None of the above Oc. (x=9, max π=$2,925) O d. (x=64, max π=$4,800) Previous page Next page

Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter11: Profit Maximization
Section: Chapter Questions
Problem 11.9P
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Time left 0:57:25 Question 2 Not yet answered Marked out of 5.00 PFlag question A firm in the Caribbean produces a product using a single input in its production function. The function is given as f(x) = 8x1/2, where x is the number of units of input. The sale price of the product is $150 per item and the input costs $75 per unit. - What is the profit-maximizing ambunt of input and its resulting maximum profit? Select one: O a. (x=16, max π= $3,600) O b. None of the above Oc. (x=9, max π=$2,925) O d. (x=64, max π=$4,800) Previous page Next page
Transcribed Image Text:Time left 0:57:25 Question 2 Not yet answered Marked out of 5.00 PFlag question A firm in the Caribbean produces a product using a single input in its production function. The function is given as f(x) = 8x1/2, where x is the number of units of input. The sale price of the product is $150 per item and the input costs $75 per unit. - What is the profit-maximizing ambunt of input and its resulting maximum profit? Select one: O a. (x=16, max π= $3,600) O b. None of the above Oc. (x=9, max π=$2,925) O d. (x=64, max π=$4,800) Previous page Next page
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