A Profit-Maximizing Competitive Firm Uses Just One Input, X

question 23

Multiple Choice

A profit-maximizing competitive firm uses just one input, x.Its production function is q = 4x^1/2.The price of output is $28 and the factor price is $7.The amount of the factor that the firm demands is

• A)8.
• B)16.
• C)64.
• D)60.
• E)None of the above.