A Competitive Firm Uses Two Inputs, X and Y

question 46

Multiple Choice

A competitive firm uses two inputs, x and y.Total output is the square root of x times the square root of y.The price of x is $17 and the price of y is $11.The company minimizes its costs per unit of output and spends $517 on x.How much does it spend on y?

• A)$766
• B)$480
• C)$655
• D)$517
• E)None of the above.

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Definitions:

Subjective Evaluations

Assessments based on personal judgments, opinions, or feelings, rather than on objective measurements or criteria.

Actual Performance

Refers to the real, observed work output or achievements of an employee, as opposed to expected or projected performance.

Timing Appraisals

Involves the assessment or evaluation of processes or employees at specific intervals to ensure optimal performance.

Brief Time Period

A short duration or span of time.