A profit-maximizing competitive firm uses just one input, x. Its production function is q = 8 . The price of output is $24 and the factor price is $8. The amount of the factor that the firm demands is
A)11
B)128
C)144
D) 27.71.
E) None of the above.

Question

A profit-maximizing competitive firm uses just one input, x. Its production function is q = 8  . The price of output is $24 and the factor price is $8. The amount of the factor that the firm demands is
A)11 
B)128 
C)144 
D) 27.71. 
E) None of the above.

Quizplus · Accepted Answer

The Answer of A profit-maximizing competitive firm uses just one input, x. Its production function is q = 8  . The price of output is $24 and the factor price is $8. The amount of the factor that the firm demands is
A)11 
B)128 
C)144 
D) 27.71. 
E) None of the above.

A Profit-Maximizing Competitive Firm Uses Just One Input, X