A Firm's Production Function Is F(x₁, X₂)= X₁ + 2x₂

question 1

True/False

A firm's production function is f(x₁, x₂)= x₁ + 2x₂.This means that x₂ is twice as expensive as x₁.

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Definitions:

Operant Conditioning

A training mechanism in which the degree of a behavior is controlled by the application of rewards or punishments.

Animal

A living organism that feeds on organic matter, typically having specialized sense organs and nervous system and able to respond rapidly to stimuli.

Punishment

A consequence that reduces the probability of a behavior being repeated, often by introducing a negative outcome or removing a positive stimulus.

Reinforcement

A concept in psychology that refers to anything that strengthens a behavior, making it more likely to occur.