A Firm Uses a Single Variable Input X to Produce

question 30

True/False

A firm uses a single variable input x to produce outputs according to the production function f (x)= 300x 6x2.This firm has fixed costs of $400.This firm's short-run marginal cost curve lies below its short-run average variable cost curve for all positive values of x.

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Definitions:

Substance Dependence

Diagnosis given in the DSM-IV when a person’s substance use leads to physiological dependence or significant impairment or distress, as manifested by an inability to use the substance in moderation; a decline in social, occupational, or recreational activities; or the spending of large amounts of time obtaining substances or recovering from their effects.

Heroin

An illegal opioid drug derived from morphine, highly addictive and known for its euphoric effects.

Substance Intoxication

Experience of significantly maladaptive behavioral and psychological symptoms due to the effect of a substance on the central nervous system that develops during or shortly after use of the substance.

Substance Tolerance

A reduced response to a drug over time, requiring an increase in dosage to achieve the originally desired effect.