A Competitive Firm Produces Output Using Three Fixed Factors and One

question 53

Multiple Choice

A competitive firm produces output using three fixed factors and one variable factor.The firm's short-run production function is q = 154x - 5x², where x is the amount of variable factor used.The price of the output is $2 per unit and the price of the variable factor is $8 per unit.In the short run, how many units of x should the firm use?

• A)15
• B)30
• C)17
• D)7
• E)None of the above.

Grasp the historical and cultural methods of mate selection and their evolution over time.

Appreciate the challenges and adjustments couples face with parenthood and how it affects the marital relationship.

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Explore strategies to promote less gender rigid behaviors in children.

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Definitions:

Molding

The process of shaping a pliable raw material by using a rigid frame or model called a mold.

Assembly

The process of putting together various components or pieces to build a finished product.

Predetermined Overhead Rate

A rate calculated before the accounting period begins, used to estimate the cost of manufacturing overhead for a specific activity base.

Machine-Hours

An indicator of the time spent in production, calculating the duration in hours that machinery is active during the manufacturing cycle.