The Production Function Is F(x₁, X₂) = ₁

question 19

Multiple Choice

The production function is f(x₁, x₂) = _1
2. If the price of factor 1 is $6 and the price of factor 2 is $12, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

• A) x₁ = 12x₂.
• B) x₁ = 0.50x₂.
• C) x₁ = 2x₂.
• D) x₁ = x₂.
• E) We can't tell without knowing the price of the output.

Understand the significance of intellectual and vocational assessment in psychology.

Acknowledge the development and significance of projective testing within psychological assessment.

Comprehend the role of psychological testing in governmental and military contexts.

Appraise the ethical concerns and considerations in the administration of psychological tests.