A firm has two variable factors and a production function f(x1, x2) = 6x1/21X21/3. The price of its output is 3, the price of factor 1 is 3, and the price of factor 2 is 2. – What is the optimal production output level? – What is the maximum profit-level?
A firm has two variable factors and a production function f(x1, x2) = 6x1/21X21/3. The price of its output is 3, the price of factor 1 is 3, and the price of factor 2 is 2. – What is the optimal production output level? – What is the maximum profit-level?
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 2SQ
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A firm has two variable factors and a production
function f(x1, x2) = 6x1/21X21/3. The price of its output is 3, the price of factor 1 is 3, and the price
of factor 2 is 2.
– What is the optimal production output level?
– What is the maximum profit-level?
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