A competitive firm's production function is f(x₁, x₂) = 12 ₁ + 4 ₂. The price of factor 1 is $1 and the price of factor 2 is $2. The price of output is $4. What is the profit-maximizing quantity of output? A) 304 B) 608 C) 300 D) 612 E) 292

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The Answer of A competitive firm's production function is f(x₁, x₂) = 12 ₁ + 4 ₂. The price of factor 1 is $1 and the price of factor 2 is $2. The price of output is $4. What is the profit-maximizing quantity of output? A) 304 B) 608 C) 300 D) 612 E) 292

A Competitive Firm's Production Function Is F(x1, X2) = 12

A Competitive Firm's Production Function Is F(x₁, X₂) = 12