A Competitive Firm's Production Function Is F(x₁, X₂)= 6x^1/2₁

question 21

Multiple Choice

A competitive firm's production function is f(x₁, x₂) = 6x^1/2₁ + 8x^1/2₂.The price of factor 1 is $1 and the price of factor 2 is $4.The price of output is $8.What is the profit-maximizing quantity of output?

• A)416
• B)208
• C)204
• D)419
• E)196

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Definitions:

Lien

A legal right or claim against a property by a creditor to ensure the payment of a debt.

County Clerk

An official in local government who manages public records and documents, particularly in relation to property and civil records.

Judicial Lien

A lien obtained by a creditor upon a debtor's property, authorized by a judgment, decree, or court order.

Complex Adaptive

Systems that are able to adapt and evolve in response to changes in the environment.