Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 07, 2024

need help with this question Short Question 4 (2 points) A profit-maximizing firm produces output using input x. The production function of the firm is

need help with this question
Short Question 4 (2 points) A profit-maximizing firm produces output using input x. The production function of the firm is given by 3x if 0 10 When the price of output is 2 and the price of input x is 3, what is the profit-maximizing amount of input x? Explain briefly. 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

OPEC Twenty Years And Beyond

Authors: Ragaei El Mallakh

1st Edition

1317244737, 9781317244738

More Books

Students also viewed these Economics questions

Question

★★★★★

Interest Rate Futures: Fair Value Hedge Fabric retailer Petren Corp. buys 300,000 yards of cloth each quarter at an average price of $3.00/yard. To finance these purchases, Petren sells $1,000 face...

Answered: 1 week ago

Question

★★★★★

Read MIL-STD-973 and summarize the approach of the Department of Defense to configuration management.

Answered: 1 week ago

Question

★★★★★

Was the researcher critically reflexive?

Answered: 1 week ago

Question

★★★★★

On December 31, 2008, before the books were closed, the management and accountants of Keltner Inc. made the following determinations about three depreciable assets. 1. Depreciable asset A was...

Answered: 1 week ago

Question

★★★★★

Keele Bank has the following items on its balance sheet (expressed in $billion). ESF 2 Accumulated retained profit 54 Term Deposits of customers 630 Loans to households 500 Capital notes on issue 4...

Answered: 1 week ago

Question

★★★★★

Forecasting with the Parsimonious Method and Estimating Share Value Using the ROPI Model Following are income statements and balance sheets for Cisco Systems. Cisco Systems Consolidated Statements of...

Answered: 1 week ago

Question

★★★★★

Define function and provide an example of the function operation. What is the difference between the COUNT and COUNTA functions? What is the difference between AutoComplete and FlashFill? Describe...

Answered: 1 week ago

Question

★★★★★

Exercise 5.3 (Algo) Worksheet through Adjusted Trial Balance. LO 5-1, 5-2 On January 31, 20X1, the general ledger of Johnson Company showed the following account balances. Accounts Cash Accounts...

Answered: 1 week ago

Question

★★★★★

The General Duty Clause is often used to cite employers in the absence of a specific regulation. Provide an example of when you believe the Occupational Safety and Health Administration (OSHA)...

Answered: 1 week ago

Question

★★★★★

15. Mr. Debtor owes Mr. Creditor P100, 000. On the due date, Mr. Debtor delivers a cashier's check for the full amount. Mr. Creditor refuses to accept the check. a. Debtor may make a consignation by...

Answered: 1 week ago

Question

★★★★★

How to identify hardware in a system using CLI or GUI? Make sure you cover the 5 major components of your computer along with the other components that are of interest (things like networking and GPU...

Answered: 1 week ago

Question

★★★★★

1. What music streaming services do students at Olympia High use? 33% of students use Apple Music, 41% use Spotify and 18% use both services. A-Apple Music S=Spotify (a) Create a two way table to...

Answered: 1 week ago

Question

★★★★★

In Example 4.2 Olaf Motors, Inc., determined that the number of Prius cars sold daily could vary from 0 to 5, with the probabilities given in Table 4.2. Find the expected value and variance for this...

Answered: 1 week ago

Question

★★★★★

4.20 Forest Green Brown, Inc., produces bags of cypress mulch. The weight in pounds per bag varies, as indicated in the accompanying table. Weight in pounds 44 45 46 47 48 49 50 Proportion of bags...

Answered: 1 week ago

Question

★★★★★

A contractor is interested in the total cost of a project on which she intends to bid. She estimates that materials will cost $25,000 and that her labor will be $900 per day. If the project takes X...

Answered: 1 week ago

Previous Question Next Question