A Firm Uses 3 Factors to Produce Its Output

question 15

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 2, its output will be multiplied by

• A)2.
• B)4.
• C)8.
• D)0.40.
• E)The answer depends on the original choice of x, y, and z.

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Definitions:

Choledochotomy

A surgical incision into the common bile duct, often performed to remove gallstones or to relieve bile duct obstruction.

Catabolism

The breakdown of complex molecules in living organisms to form simpler ones, together with the release of energy; destructive metabolism.

Small Intestine

A part of the gastrointestinal tract between the stomach and large intestine, where most of the end absorption of nutrients takes place.

Jejunum

The middle section of the small intestine in humans and most mammals, lying between the ileum and the duodenum.