Time left 0:57:25 Question 2 Not yet answered Marked out of 5.00 PFlag question A firm in the Caribbean produces a product using a single input in its production function. The function is given as f(x) = 8x1/2, where x is the number of units of input. The sale price of the product is $150 per item and the input costs $75 per unit. - What is the profit-maximizing ambunt of input and its resulting maximum profit? Select one: O a. (x=16, max π= $3,600) O b. None of the above Oc. (x=9, max π=$2,925) O d. (x=64, max π=$4,800) Previous page Next page
Time left 0:57:25 Question 2 Not yet answered Marked out of 5.00 PFlag question A firm in the Caribbean produces a product using a single input in its production function. The function is given as f(x) = 8x1/2, where x is the number of units of input. The sale price of the product is $150 per item and the input costs $75 per unit. - What is the profit-maximizing ambunt of input and its resulting maximum profit? Select one: O a. (x=16, max π= $3,600) O b. None of the above Oc. (x=9, max π=$2,925) O d. (x=64, max π=$4,800) Previous page Next page
Chapter11: Profit Maximization
Section: Chapter Questions
Problem 11.9P
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Question 2
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A firm in the Caribbean produces a product using a single input in its production function.
The function is given as f(x) = 8x1/2, where x is the number of units of input. The sale
price of the product is $150 per item and the input costs $75 per unit.
-
What is the profit-maximizing ambunt of input and its resulting maximum profit?
Select one:
O a. (x=16, max π= $3,600)
O b. None of the above
Oc. (x=9, max π=$2,925)
O d. (x=64, max π=$4,800)
Previous page
Next page](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1683849d-5094-46de-a57a-7abddfb1bc38%2F97dfe1ac-58c7-40f5-96d8-8ef984590128%2F6uca1b6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Time left 0:57:25
Question 2
Not yet
answered
Marked out of
5.00
PFlag question
A firm in the Caribbean produces a product using a single input in its production function.
The function is given as f(x) = 8x1/2, where x is the number of units of input. The sale
price of the product is $150 per item and the input costs $75 per unit.
-
What is the profit-maximizing ambunt of input and its resulting maximum profit?
Select one:
O a. (x=16, max π= $3,600)
O b. None of the above
Oc. (x=9, max π=$2,925)
O d. (x=64, max π=$4,800)
Previous page
Next page
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