If the Price of the Output Good Is $4, the Price

question 11

Multiple Choice

if the price of the output good is $4, the price of factor 1 is $1, and the price of factor 2 is $3, what is the profit-maximizing amount of factor 1?

• A)8
• B)2
• C)1
• D)0
• E)There is not enough information to tell.

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Definitions:

Prioritizing

The action of arranging or dealing with tasks, problems, or opportunities in order of importance, often to manage time and resources effectively.

Work Ethic

A set of values centered on the importance of doing work and reflected in a commitment to hard work and excellence.

Professional Behaviors

The display of actions and conduct deemed appropriate and ethical within a professional setting.

Technical Skills

Specific abilities and knowledge utilized to perform practical tasks in various fields such as information technology, engineering, or science.