In Problem 2, the Production Function Is Given by F(x)

question 5

Multiple Choice

In Problem 2, the production function is given by f(x) . If the price of the commodity produced is $100 per unit and the cost of the input is $45 per unit, how much profit will the firm make if it maximize profits?

• A) $1,781.78
• B) $873.89
• C) $888.89
• D) $442.44
• E) $447.44

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Definitions:

Biconditional

A logical statement that is true if both its components are either true or false together.

Self-Contradiction

Self-contradiction is a logical inconsistency whereby a statement contradicts itself directly or indirectly, rendering it logically impossible.

Main Component

The primary or most important part of a system.

Conjunct

An element of a conjunction in logic, where each conjunct must be true for the whole conjunction to be true.