A Competitive Firm Produces Its Output According to the Production

question 39

Multiple Choice

A competitive firm produces its output according to the production function y = min{x2, 100}.Let w be the price of the factor x, and let the price of output be $1.The demand for x, when the price of x is w, is

• A)10 when w < 1 and 100 otherwise.
• B)100 for all w.
• C)10 for all w.
• D)0 if w > 10 and 10 otherwise.
• E)None of the above.

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Definitions:

Arousal

Feelings of interest and excitement communicated by such nonverbal cues as vocal expressions, facial expressions, and gestures.

Dominance

Power, status, and control communicated by such nonverbal cues as a relaxed posture, greater personal space, and protected personal space.

Nonverbal Cues

Communication signals or expressions that are not spoken or written, such as facial expressions, gestures, and body language.

Movement

A change in position, location, or state, often referring to physical actions or trends within society or culture.