A competitive firm produces output using three fixed factors and one variable factor. The firm's short-run production function is q = 154x - 5x², where x is the amount of variable factor used. The price of the output is $2 per unit and the price of the variable factor is $8 per unit. In the short run, how many units of x should the firm use? A) 15 B) 30 C) 17 D) 7 E) None of the above.

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The Answer of A competitive firm produces output using three fixed factors and one variable factor. The firm's short-run production function is q = 154x - 5x², where x is the amount of variable factor used. The price of the output is $2 per unit and the price of the variable factor is $8 per unit. In the short run, how many units of x should the firm use? A) 15 B) 30 C) 17 D) 7 E) None of the above.

A Competitive Firm Produces Output Using Three Fixed Factors and One