Question
A firm uses a single input to produce its output which is sold in a competitive market. The price of the input is $4. The
A firm uses a single input to produce its output which is sold in a competitive market. The price of the input is $4. The firm's production function is f(x) = 60x -x2and the price of its output is $1. Calculate the profit-maximizing amount of input x hat the firm will buy.
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The Chinese Economy Transitions And Growth
Authors: Barry Naughton
1st Edition
0262640643, 9780262640640
