Question
the production function is given by f ( x ) = 4 x 1/2 . If the price of the commodity produced is $100 per
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?
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Economics Today The Macro View
Authors: Roger LeRoy Miller
19th Edition
0134478762, 978-0134478760
