The Production Function Is Given by F(x)= 4x^1/2

question 4

Multiple Choice

The production function is given by f(x) = 4x^1/2.If the price of the commodity produced is $60 per unit and the cost of the input is $20 per unit, how much profit will the firm make if it maximizes profits?

• A)$1,444
• B)$705
• C)$720
• D)$358
• E)$363

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Definitions:

Goods and Services

The products and services offered to consumers in the market to satisfy needs or wants.