9) A competitive firm's production function is f(x1, x2) = 12x²+ 4x². The price of factor 1 is $2 and the price of factor 2 is $2. The price of output is $6. What is the profit-maximizing quantity of output?
9) A competitive firm's production function is f(x1, x2) = 12x²+ 4x². The price of factor 1 is $2 and the price of factor 2 is $2. The price of output is $6. What is the profit-maximizing quantity of output?
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 21PAE
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Question
![9) A competitive firm's production function is f(x1, x2) = 12x/2+ 4x. The price of factor 1 is
S2 and the price of factor 2 is $2. The price of output is $6. What is the profit-maximizing
quantity of output?
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Transcribed Image Text:9) A competitive firm's production function is f(x1, x2) = 12x/2+ 4x. The price of factor 1 is
S2 and the price of factor 2 is $2. The price of output is $6. What is the profit-maximizing
quantity of output?
%3D
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