A Firm Can Produce 100 Units Per Week

question 25

Multiple Choice

A firm can produce 100 units per week. If its total cost function is dollars, and its total revenue function is dollars, how many units x should it produce to maximize its profit? ​​

• A) 1,850 units
• B) 950 units
• C) 96 units
• D) 50 units
• E) 100 units

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Definitions:

Inputs

Refers to the resources used in the production of goods and services, including labor, capital, and materials.

Impossible Production

A situation in economic theory where the resources available are not sufficient to produce a desired combination of goods and services.

Technological Advancement

The process of developing new technologies or improving existing ones to enhance productivity or solve problems.

Overallocation

Overallocation refers to a scenario where resources are distributed in excess of the optimum level, often leading to inefficiency or wastage.