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

question 3

Multiple Choice

A profit-maximizing competitive firm uses just one input, x. Its production function is q = 4 . The price of output is $12 and the factor price is $3. The amount of the factor that the firm demands is

• A)64
• B)16
• C)60
• D)8
• E) None of the above.

---

Definitions:

UPA

Uniform Partnership Act, which regulates the operation of partnerships in the absence of express agreement between the partners.

Wrongfully Withdrawing

refers to the act of improperly removing oneself or something from consideration, possession, or use without legal justification or authority.

Force Liquidation

The process of quickly selling off assets or securities, typically at lower prices, often initiated by creditors or regulatory authorities.

Criminally Liable

The legal responsibility for committing a violation of law that is designated as an offense against the state or public, subject to punishment.