A Firm's Production Function Is Q = 12x0

question 2

Multiple Choice

A firm's production function is q = 12x0.50y0.50, where x and y are the amounts of factors x and y that the firm uses as inputs.If the firm is minimizing unit costs and if the price of factor x is 5 times the price of factor y,the ratio in which the firm will use factors x and y is closest to

• A)x/y = 0.20.
• B)x/y = 0.40.
• C)x/y = 1.
• D)x/y = 1.67.
• E)x/y = 5.

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