A Firm Uses a Single Input to Produce Its Output

question 46

Multiple Choice

A firm uses a single input to produce its output, which is sold in a competitive market.It gets quantity discounts on purchases of its input.If it buys x units of the input, the price it must pay per unit of input is 25/x + 4.If it buys no inputs, it doesn't have to pay anything.The firm's production function is f(x) = 60x - x².If the price of the firm's output is 1, the profit-maximizing amount of input to buy is

• A)56.
• B)0.
• C)42.
• D)28.
• E)None of the above.

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Definitions:

Methylphenidate (Ritalin)

The most frequently prescribed stimulant medication for children with attention deficit hyperactivity disorder (ADHD).

ADHD

A neurodevelopmental condition, Attention Deficit Hyperactivity Disorder, manifests through lack of focus, high levels of activity, and impulse control issues.

Stimulant Medications

Drugs that increase activity in the brain and nervous system, often prescribed to treat conditions like ADHD and narcolepsy.

Vigilance

The action or state of keeping careful watch for possible danger or difficulties.