A Firm's Production Function Is F(x1, X2)= (Min{x₁, 5x₂})^1/2

question 1

Multiple Choice

A firm's production function is f(x1, x2) = (min{x₁, 5x₂}) ^1/2.If the price of factor 1 is w1 = $5 per unit and the price of factor 2 is w2 = $25 per unit, then its supply function is given by the equation S(p) =

• A)p/20.
• B)max{w1, 5w2}p.
• C)min{w1, 5w2}p.
• D)10p.
• E)min{5p, 125p}p.

---

Definitions:

Organizational Hierarchy

The arrangement of individuals within an organization according to power, status, and job function, often visualized as a pyramid structure.

Self-managed Teams

Groups of employees who are responsible for managing their work and the processes leading to the completion of their goals without direct supervision.

Managerial Layers

Describes the levels of management hierarchy within an organization, from frontline managers to top executives.

Task Force

A temporary group of people formed to carry out a specific project or solve a particular problem.