Exam 20:Profit Maximization-Part B

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In Problem 2,the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $50 per unit and the cost of the input is $25 per unit,how much profit will the firm make if it maximize profits?

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(Multiple Choice)

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Question 1

Correct Answer:

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In Problem 11,the production function is f(x₁,x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $8 and the price of factor 2 is $16,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

Free

(Multiple Choice)

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Question 2

Correct Answer:

Verified

In Problem 11,the production function is f(x₁,x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $14 and the price of factor 2 is $7,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

Free

(Multiple Choice)

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Question 3

Correct Answer:

Verified

In Problem 11,the production function is f(x₁,x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $4 and the price of factor 2 is $6,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

(Multiple Choice)

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Question 4

In Problem 1,the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $8 and the price of output is 4,how many units of labor will the firm hire?

(Multiple Choice)

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Question 5

In Problem 9,when Farmer Hoglund applies N pounds of fertilizer per acre,the marginal product of fertilizer is 1 - N/200 bushels of corn.If the price of corn is $1 per bushel and the price of fertilizer is $.40 per pound,then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

(Multiple Choice)

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Question 6

In Problem 11,the production function is f(x₁,x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $8 and the price of factor 2 is $4,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

(Multiple Choice)

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(84)

Question 7

In Problem 9,when Farmer Hoglund applies N pounds of fertilizer per acre,the marginal product of fertilizer is 1 -N/200 bushels of corn.If the price of corn is $3 per bushel and the price of fertilizer is $.30 per pound,then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

(Multiple Choice)

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Question 8

In Problem 1,the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16,how many units of labor will the firm hire?

(Multiple Choice)

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Question 9

In Problem 1,the production function is given by F(L)=6L^2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16,how many units of labor will the firm hire?

(Multiple Choice)

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Question 10

In Problem 2,the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $90 per unit and the cost of the input is $45 per unit,how much profit will the firm make if it maximize profits?

(Multiple Choice)

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(76)

Question 11

In Problem 1,the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $12 and the price of output is 12,how many units of labor will the firm hire?

(Multiple Choice)

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(83)

Question 12

In Problem 9,when Farmer Hoglund applies N pounds of fertilizer per acre,the marginal product of fertilizer is 1 - N/200 bushels of corn.If the price of corn is $1 per bushel and the price of fertilizer is $.20 per pound,then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

(Multiple Choice)

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(75)

Question 13

In Problem 1,the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $12 and the price of output is 9,how many units of labor will the firm hire?

(Multiple Choice)

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Question 14

In Problem 2,the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $50 per unit and the cost of the input is $40 per unit,how much profit will the firm make if it maximize profits?

(Multiple Choice)

4.7/5

(76)

Question 15

In Problem 2,the production function is given by f(x)=4x^1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $45 per unit,how much profit will the firm make if it maximize profits?

(Multiple Choice)

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(81)

Question 16

In Problem 9,when Farmer Hoglund applies N pounds of fertilizer per acre,the marginal product of fertilizer is 1 - N/200 bushels of corn.If the price of corn is $4 per bushel and the price of fertilizer is $.40 per pound,then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

(Multiple Choice)

4.9/5

(79)

Question 17

In Problem 2,the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $15 per unit,how much profit will the firm make if it maximize profits?

(Multiple Choice)

4.8/5

(80)

Question 18

In Problem 11,the production function is f(x₁,x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $10 and the price of factor 2 is $20,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

(Multiple Choice)

4.8/5

(77)

Question 19

In Problem 9,when Farmer Hoglund applies N pounds of fertilizer per acre,the marginal product of fertilizer is 1 -N/200 bushels of corn.If the price of corn is $4 per bushel and the price of fertilizer is $.40 per pound,then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

(Multiple Choice)

5.0/5

(86)

Question 20

Showing 1 - 20 of 21

Exam 20:Profit Maximization-Part B

In Problem 2,the production function is given by f(x)= 4x1/2.If the price of the commodity produced is $50 per unit and the cost of the input is $25 per unit,how much profit will the firm make if it maximize profits?

In Problem 11,the production function is f(x1,x2)=x1/21x1/22.If the price of factor 1 is $8 and the price of factor 2 is $16,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

In Problem 11,the production function is f(x1,x2)=x1/21x1/22.If the price of factor 1 is $14 and the price of factor 2 is $7,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

In Problem 11,the production function is f(x1,x2)=x1/21x1/22.If the price of factor 1 is $4 and the price of factor 2 is $6,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

In Problem 1,the production function is given by F(L)= 6L2/3.Suppose that the cost per unit of labor is $8 and the price of output is 4,how many units of labor will the firm hire?

In Problem 11,the production function is f(x1,x2)=x1/21x1/22.If the price of factor 1 is $8 and the price of factor 2 is $4,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

In Problem 1,the production function is given by F(L)= 6L2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16,how many units of labor will the firm hire?

In Problem 1,the production function is given by F(L)=6L2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16,how many units of labor will the firm hire?

In Problem 2,the production function is given by f(x)= 4x1/2.If the price of the commodity produced is $90 per unit and the cost of the input is $45 per unit,how much profit will the firm make if it maximize profits?

In Problem 1,the production function is given by F(L)= 6L2/3.Suppose that the cost per unit of labor is $12 and the price of output is 12,how many units of labor will the firm hire?

In Problem 1,the production function is given by F(L)= 6L2/3.Suppose that the cost per unit of labor is $12 and the price of output is 9,how many units of labor will the firm hire?

In Problem 2,the production function is given by f(x)= 4x1/2.If the price of the commodity produced is $50 per unit and the cost of the input is $40 per unit,how much profit will the firm make if it maximize profits?

In Problem 2,the production function is given by f(x)=4x1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $45 per unit,how much profit will the firm make if it maximize profits?

In Problem 2,the production function is given by f(x)= 4x1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $15 per unit,how much profit will the firm make if it maximize profits?

In Problem 11,the production function is f(x1,x2)=x1/21x1/22.If the price of factor 1 is $10 and the price of factor 2 is $20,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

Demand-Part A

Revealed Preference-Part A

Revealed Preference-Part B

Slutsky Equation-Part A

Slutsky Equation-Part B

Buying and Selling-Part A

Buying and Selling-Part B

Intertemporal Choice-Part A

Intertemporal Choice-Part B

Asset Markets-Part A

Asset Markets-Part B

Uncertainty-Part A

Uncertainty-Part B

Risky Assets-Part A

Risky Assets-Part B

Consumers Surplus-Part A

Consumers Surplus-Part B

Market Demand-Part A

Market Demand-Part B

Equilibrium-Part A

Equilibrium-Part B

Auctions-Part A

Auctions-Part B

Technology-Part A

Technology-Part B

Profit Maximization-Part A

Cost Minimization-Part A

Cost Minimization-Part B

Cost Curves-Part A

Cost Curves-Part B

Firm Supply-Part A

Firm Supply-Part B

Industry Supply-Part A

Industry Supply-Part B

Monopoly-Part A

Monopoly-Part B

Monopoly Behavior-Part A

Monopoly Behavior-Part B

Factor Markets-Part A

Factor Markets-Part B

Oligopoly-Part A

Oligopoly-Part B

Game Theory-Part A

Game Theory-Part B

Game Applications-Part A

Game Applications-Part B

Behavioral Economics-Part A

Exchange-Part A

Exchange-Part B

Production-Part A

Production-Part B

Welfare-Part A

Welfare-Part B

Externalities-Part A

Externalities-Part B

Information Technology-Part A

Information Technology-Part B

Public Goods-Part A

Public Goods-Part B

Asymmetric Information-Part A

Asymmetric Information-Part B

Filters

In Problem 2,the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $50 per unit and the cost of the input is $25 per unit,how much profit will the firm make if it maximize profits?

In Problem 11,the production function is f(x₁,x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $8 and the price of factor 2 is $16,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

In Problem 11,the production function is f(x₁,x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $14 and the price of factor 2 is $7,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

In Problem 11,the production function is f(x₁,x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $4 and the price of factor 2 is $6,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

In Problem 1,the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $8 and the price of output is 4,how many units of labor will the firm hire?

In Problem 11,the production function is f(x₁,x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $8 and the price of factor 2 is $4,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

In Problem 1,the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16,how many units of labor will the firm hire?

In Problem 1,the production function is given by F(L)=6L^2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16,how many units of labor will the firm hire?

In Problem 2,the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $90 per unit and the cost of the input is $45 per unit,how much profit will the firm make if it maximize profits?

In Problem 1,the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $12 and the price of output is 12,how many units of labor will the firm hire?

In Problem 1,the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $12 and the price of output is 9,how many units of labor will the firm hire?

In Problem 2,the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $50 per unit and the cost of the input is $40 per unit,how much profit will the firm make if it maximize profits?

In Problem 2,the production function is given by f(x)=4x^1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $45 per unit,how much profit will the firm make if it maximize profits?

In Problem 2,the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $15 per unit,how much profit will the firm make if it maximize profits?

In Problem 11,the production function is f(x₁,x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $10 and the price of factor 2 is $20,in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?