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A competitive firm uses two inputs, x and y. Total output is the square root of x times the square root of y. The price of x is $17 and the price of y is $11. The company minimizes its costs per unit of output and spends $517 on x. How much does it spend on y? $766 $480 $655 $517 None of the above. a. b. c. d. e.

A competitive firm uses two inputs, x and y. Total output is the square root of x times the square root of y. The price of x is $17 and the price of y is $11. The company minimizes its costs per unit of output and spends $517 on x. How much does it spend on y? $766 $480 $655 $517 None of the above. a. b. c. d. e.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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markscheme says answer is d but i think it might be an error so want to ask experts 

A competitive firm uses two inputs, x and y. Total output is the square root of x times the square root of y. The price of x is $17 and the price of y is $11. The company minimizes its costs per unit of output and spends $517 on x. How much does it spend on y? $766 $480 $655 $517 None of the above. a. b. c. d. e.
Transcribed Image Text:A competitive firm uses two inputs, x and y. Total output is the square root of x times the square root of y. The price of x is $17 and the price of y is $11. The company minimizes its costs per unit of output and spends $517 on x. How much does it spend on y? $766 $480 $655 $517 None of the above. a. b. c. d. e.
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