The Production Function Is F(x₁, X₂)= X^1/2₁x^1/2₂

question 52

Multiple Choice

The production function is f(x₁, x₂) = x^1/2₁x^1/2₂.If the price of factor 1 is $10 and the price of factor 2 is $15, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

• A)x₁ = 1.50x₂.
• B)x₁ = x₂.
• C)x₁ = 15x₂.
• D)x₁ = 0.67x₂.
• E)We can't tell without knowing the price of the output.

Recognize the importance of managing bottlenecks in the production process.

Grasp the principles of throughput accounting and its impact on profitability.

Acknowledge the role of continuous improvement and performance measurement in process enhancement.

Understand the significance of resolving bottlenecks to improve efficiency and profitability.

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