A Firm Uses 3 Factors to Produce Its Output

question 48

Multiple Choice

A firm uses 3 factors to produce its output. Its production function is f(x, y, z) = min{ , y², }. If the amount of each input is multiplied by 3, its output will be multiplied by

• A)27
• B)9
• C)3
• D) 0.30.
• E) The answer depends on the original choice of x, y, and z.

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Definitions:

Increasing

Increasing refers to a situation or phenomenon that is growing in size, number, value, or intensity over a period of time.

Medical Establishment

denotes the network of professional healthcare practitioners, institutions, and regulatory bodies that set standards for medical practice and healthcare delivery.

Medicalization

The increasing influence of the medical profession in defining what is normal/healthy and abnormal/ill.

Diagnosed

The process of identifying a disease or condition by its signs, symptoms, and from the results of various diagnostic procedures.