A Competitive Firm Uses a Single Input X to Produce

question 41

Multiple Choice

A competitive firm uses a single input x to produce its output y. The firm's production function is given by y = for quantities of x between 0 and 4. For quantities of a greater than 4, the firm's output is y = 4 + x. If the price of the output y is $1 and the price of the input x is $3, how much x should the firm use to maximize its profit?

• A)16/9
• B) 4
• C) 0
• D)4/9
• E)9/2

---

Definitions:

Schizophrenia

A chronic and severe mental disorder characterized by distortions in thinking, perception, emotions, language, sense of self, and behavior.

State Mental Hospitals

Publicly funded psychiatric hospitals primarily responsible for treating individuals with severe mental health disorders, often when less restrictive settings are inadequate.

Mid-Twentieth Century

Pertains to the period around the middle of the 20th century, typically considered to span from the 1930s to the 1960s.

State Hospitals

Public hospitals administered by the government, often specifically for mental health care, rehabilitation, or long-term illness.