A Firm Has the Production Function F(X, Y)= X^3/4 Y^1/4

question 33

Multiple Choice

A firm has the production function f(X, Y) = X^3/4 Y^1/4, where X is the amount of factor x used and Y is the amount of factor y used.On a diagram we put X on the horizontal axis and Y on the vertical axis.We draw some isoquants.Now we draw a straight line on the graph and we notice that wherever this line meets an isoquant, the isoquant has a slope of -9.The straight line we drew

• A)is a ray through the origin with slope 3.
• B)is a ray through the origin with slope 4.
• C)is vertical.
• D)is horizontal.
• E)has a negative slope.

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Definitions:

Scatterplot

A type of graph used in statistics to visually display and compare two variables for a set of data.

Pie Chart

A circular statistical graphic divided into slices to illustrate numerical proportion.

Negative Correlation

A relationship between two variables where one variable increases as the other decreases.

X-Variable

X-Variable is a placeholder term used in mathematical equations or models to represent an unknown or variable factor.