Suppose That Irma's Production Function Is F(x₁, X₂)= (Min{x₁, 3x₂})^1/2

question 12

Multiple Choice

suppose that Irma's production function is f(x₁, x₂) = (min{x₁, 3x₂}) ^1/2.If the price of factor 1 is w₁ = $3 and the price of factor 2 is w₂ = $9, then her supply function is given by the equation

• A)S(p)=p(min{w₁, 3w₂})².
• B)S(p)= 6p.
• C)S(p)= p/12.
• D)S(p)= p(max{w₁, 3w₂})².
• E)S(p)= min{3p, 27p}.

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Definitions:

Punishment

A strategy used in behavior modification involving the application of unpleasant consequences to discourage undesirable behavior.

Baseline Data

The initial set of data or observations collected before the start of a project or experiment, used for comparison with subsequent data.

Systematic Desensitization

A therapeutic technique used to treat phobias and anxiety disorders by gradually exposing the person to the anxiety-producing stimulus in a controlled way.

Role Playing

A therapeutic technique where individuals act out roles in a simulated situation which can help in understanding behaviors, practicing responses, or preparing for real-life interactions.