In Problem 9, Suppose That Irma's Production Function Is F(x₁

question 12

Multiple Choice

In Problem 9, suppose that Irma's production function is f(x₁, x₂) . If the price of factor 1 is w₁ = $2 and the price of factor 2 is w₂ = $15, then her supply function is given by the equation

• A) S(p) =.
• B) S(p) = p(max{w₁, 3w₂} )².
• C) S(p) = p(min{w₁, 3w₂} )².
• D) S(p) = 7p.
• E) S(p) = min{ 2p, 45p}.

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Definitions:

Reactive Power

The portion of electricity that oscillates between the source and load, stored and discharged by inductive or capacitive components, not converted to work.

Inductive Reactance

The opposition that an inductor presents to the change in current flow due to its stored magnetic energy, expressed in ohms.

Parallel Circuit

An electrical circuit in which components are connected across common points or junctions to provide multiple paths for current to flow.

Inductive Reactance

The opposition that an inductor presents to alternating current, due to the inductor's tendency to resist changes in current flow, measured in Ohms (Ω).