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A Profit-Maximizing Competitive Firm Uses Just One Input, X

Question 3

Multiple Choice

A profit-maximizing competitive firm uses just one input, x. Its production function is q = 4 A profit-maximizing competitive firm uses just one input, x. Its production function is q = 4 . The price of output is $12 and the factor price is $3. The amount of the factor that the firm demands is A) 64 B) 16 C) 60 D) 8 E) None of the above. . The price of output is $12 and the factor price is $3. The amount of the factor that the firm demands is


A) 64
B) 16
C) 60
D) 8
E) None of the above.

Correct Answer:

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