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:

Cone Receptors

Photoreceptor cells in the retina of the eye that function best in relatively bright light and enable the perception of colors.

Auditory Nerve

The nerve structure that receives information about sound from the hair cells of the inner ear and carries these neural impulses to the brain’s auditory areas.

Cochlea

A spiral-shaped, fluid-filled inner ear structure crucial for converting sound waves into nerve signals.

Pain Receptors

Sensory neurons located throughout the body that respond to damaging stimuli by sending pain signals to the brain.