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

question 20

Multiple Choice

A profit-maximizing competitive firm uses just one input, x. Its production function is q = 8 . The price of output is $24 and the factor price is $8. The amount of the factor that the firm demands is

• A)11
• B)128
• C)144
• D) 27.71.
• E) None of the above.

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Definitions:

Cell Death

A biological process by which cells are programmed to die, playing a crucial role in removing unhealthy cells and maintaining the balance within an organism.

Entorhinal Cortex

A part of the cerebral cortex located in the medial temporal lobe, functioning as a hub in a widespread network for memory, navigation, and the perception of time.

Visual Object Memory

The cognitive ability to remember visual objects and their details over time.