A Firm Uses a Single Input to Produce Its Output

question 8

Multiple Choice

A firm uses a single input to produce its output, which is sold in a competitive market. It gets quantity discounts on purchases of its input. If it buys x units of the input, the price it must pay per unit of input is + 3. If it buys no inputs, it doesn't have to pay anything. The firm's production function is f(x) = 45x - x². If the price of the firm's output is 1, the profit-maximizing amount of input to buy is

• A) 21.
• B) 0.
• C) 42.
• D) 31.50.
• E) None of the above.

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Definitions:

Cell Chemistry

Refers to the chemical processes and reactions that occur within living cells, which are crucial for maintaining life.

Anatomy

The branch of science concerned with the structure of living organisms.

Anatomical Position

Refers to the standardized stance in human anatomy where the body stands upright, feet together, arms at the side, and face, palms, and toes directed forward.

Palms

The inner surface of the hands from the wrist to the base of the fingers, often used for sensing texture and manipulating objects.