A Firm Uses 3 Factors to Produce Its Output

question 28

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

---

Definitions:

Courts

The governmental institutions authorized to settle disputes between parties in legal matters.

Persuasive Authorities

Sources of law, such as cases or statutes from other jurisdictions, that a court may consider for guidance but are not binding.

Binding

Refers to an agreement, decision, or result that cannot be legally changed or reversed.

Previous Court Opinions

Judicial decisions in earlier cases that are used as references in legal arguments and judicial decision-making.