Production function, economics, Microeconomics

A competitive firm produces output using three fixed factors and one variable factor. The firm’s short-run production function is q = 154x – 5x2, where x is the amount of variable factor used. The price of the output is $2 per unit and the price of the variable factor is $8 per unit. In the short run, how many units of x should the firm use?
Posted Date: 2/17/2012 4:53:02 AM | Location : United States







Related Discussions:- Production function, economics, Assignment Help, Ask Question on Production function, economics, Get Answer, Expert's Help, Production function, economics Discussions

Write discussion on Production function, economics
Your posts are moderated
Related Questions
Value Added:Value added in a particular stage of production equals value of total output, less the value of intermediate products (comprising raw materials, capital equipment and o


Consider a thin transparent plate whose thickness d(x,y) is a square (instead of a sinusoidal) periodic function of x of period Δ=λ. Show that the angle θ between the diffracted wa

the definition of exceptional supply curve

Sally recently finished her full time training and received certification as a nurses aid at the end of august.

The Hypothesis of Inflation-Unemployment Trade-off : This hypothesis about formation of expectations is therefore known as the hypothesis of adaptive expectations. The hypothes

TRADE AND ECONOMIC GROWTH : Foreign trade has worked as an 'engine of growth' in the past (witness Great Britain in the 19th century and Japan in the 20th, besides others), an

compare the concept of MRTS with the MRS and discuss the similarities and difference between them?

1.  Seller has ample time to adjust to price change. 2.  Buyer's response to small price change is significant. 3.  Buyers are faced with many options when deciding to make a

illustrate and discuss the implications of various market structures (competitive and non competitive) for price determination