A Competitive Firm Produces Output Using Three Fixed Factors and One

question 30

Multiple Choice

A competitive firm produces output using three fixed factors and one variable factor.The firm's short-run production function is q = 305x - 2x², where x is the amount of variable factor used.The price of the output is $2 per unit and the price of the variable factor is $10 per unit.In the short run, how many units of x should the firm use?

• A)37
• B)150
• C)21
• D)75
• E)None of the above.

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