In Problem 11, the Production Function Is F(x₁, X₂)

question 19

Multiple Choice

In Problem 11, the production function is f(x₁, x₂) . If the price of factor 1 is $10 and the price of factor 2 is $20, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

• A) We can't tell without knowing the price of output.
• B) x₁ = 2x₂.
• C) x₁ = 0.50x₂.
• D) x₁ = x₂.
• E) x₁ = 20x₂.

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Element

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Two-dimensional Array

A type of multi-dimensional array with two indexes, representing a grid-like structure for storing data.

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Typically refers to an array or collection of numerical values in programming.

Element

Refers to a basic component or part of a larger system, such as an individual data item in an array.