A Firm Uses 3 Factors to Produce Its Output

question 40

Multiple Choice

A firm uses 3 factors to produce its output.Its production function is f(x, y, z) = min{x³/y, y², (z⁴ - x⁴) /y²}.If the amount of each input is multiplied by 3, its output will be multiplied by

• A)0.30.
• B)3.
• C)9.
• D)27.
• E)The answer depends on the original choice of x, y, and z.

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Definitions:

Universal Helplessness

A theory suggesting a belief in being unable to control or influence outcomes in most or all areas of life, leading to a state of passive resignation.

Specific Attributions

The process of assigning a cause to a particular behavior or event, focusing on factors unique to that specific situation.

Fundamental Attribution Error

The tendency for observers to underestimate situational influences and overestimate dispositional characteristics when explaining others' behaviors.

Stable Internal Characteristics

Traits or attributes within an individual that are enduring and consistent across different situations and over time.