0.50.2Given the production function q = f(x1, x2) = 1.32 × xx2, input pricevector (w1, w2) and output price P, what are correct about the input demandsx(w1, w2, p), x (w1, w2, p) ? Numerical results are rounded to the nearest3-digit.Select one or more:Select one or more:O x (8, 5, 17) = 3.336 and x (8, 5, 17) = 2.202O x(4, 7, 12) = 4.398 and x (4, 7, 12) = 0.833O x (8, 5, 16) = 1.874 and x(8, 5, 16) = 1.199O x (5, 7, 12) = 2.01 and x (5, 7, 12) = 0.982

We are going to solve for optimal bundle and profit maximization to answer this question.

0.5 Given the production function q = f(x1,x2) = 1.32 × xx2, input price vector (w1, w2) and output price P, what are correct about the input demands x¡(w1, w2, p). x²(w1, w2, p) ? Numerical results are rounded to the nearest I| 3-digit. Select one or more: Select one or more: O x(8, 5, 17) = 3.336 and x (8, 5, 17) = 2.202 O x(4, 7, 12) = 4.398 and x (4, 7, 12) = 0.833 O x (8, 5, 16) = 1.874 and x(8, 5, 16) = 1.199 O x (5, 7, 12) = 2.01 and x (5, 7, 12) = 0.982

0.5 Given the production function q = f(x1,x2) = 1.32 × xx2, input price vector (w1, w2) and output price P, what are correct about the input demands x¡(w1, w2, p). x²(w1, w2, p) ? Numerical results are rounded to the nearest I| 3-digit. Select one or more: Select one or more: O x(8, 5, 17) = 3.336 and x (8, 5, 17) = 2.202 O x(4, 7, 12) = 4.398 and x (4, 7, 12) = 0.833 O x (8, 5, 16) = 1.874 and x(8, 5, 16) = 1.199 O x (5, 7, 12) = 2.01 and x (5, 7, 12) = 0.982

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

0.50.2
Given the production function q = f(x1, x2) = 1.32 × xx2, input price
vector (w1, w2) and output price P, what are correct about the input demands
x(w1, w2, p), x (w1, w2, p) ? Numerical results are rounded to the nearest
3-digit.
Select one or more:
Select one or more:
O x (8, 5, 17) = 3.336 and x (8, 5, 17) = 2.202
O x(4, 7, 12) = 4.398 and x (4, 7, 12) = 0.833
O x (8, 5, 16) = 1.874 and x(8, 5, 16) = 1.199
O x (5, 7, 12) = 2.01 and x (5, 7, 12) = 0.982

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