Question
A competitive firm produces output using one input.It's production function is given by f(x) = 100x-2x 2 . The price of its output is $2
A competitive firm produces output using one input.It's production function is given by f(x) = 100x-2x2. The price of its output is $2 and the price it pays for the input (x) is $8. How many units of input x should this firm use to maximize profits?
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Authors: Jeffrey F Beatty, Susan S Samuelson
3rd Edition
0324537115, 9780324537116
