Production function, economics, Microeconomics

Assignment Help:

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?

Related Discussions:- Production function, economics

What is modern economics, What is Modern Economics? Modern Economics: ...

What is Modern Economics? Modern Economics: Modern economics mostly developed within last sixty years, methodically studies individuals’ economic behavior as well as econo

Equilibruim, I want to know all about equilibruim consumer equilibruim firm...

I want to know all about equilibruim consumer equilibruim firms equilibruim nd market equilibruim technically also??

Basing point system, what is basing point

what is basing point

Market equilibrium, Market equilibrium happens where supply equals demand (...

Market equilibrium happens where supply equals demand (supply curve intersects demand curve). An equilibrium implies that there is no force that will cause further changes in pri

Utility, Lakshani has $5 to spend on pens and pencils. Each pen costs $0.50...

Lakshani has $5 to spend on pens and pencils. Each pen costs $0.50 and each pencil costs $0.10. She is thinking about buying 6 pens and 20 pencils. The last pen would add five time

Techniques of manpower forecasting, Normal 0 false false fa...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Need of reforms - economic policies, NEED OF REFORMS: Presently Govern...

NEED OF REFORMS: Presently Government offices generate a lot of paper work in the form of reports/returns, extended file movement in many cases for clarification of some mino

Monopolist''s profit-to-revenue ratio, "Take a monopolist with a constant a...

"Take a monopolist with a constant average cost. The higher is the elasticity of demand at the chosen monopoly price, the higher is the monopolist's profit-to-revenue ratio." Expla

Motives of regional financial institutions, Motives of regional financial i...

Motives of regional financial institutions: There are mixed motives for the donor countries to provide development assistance to developing nations. While a desire for poverty

Reorder point techniques - supply chain management, Reorder Point Technique...

Reorder Point Techniques Systems based on reorder points assume that demand is uniform and predictable and that there is no true identifiable time of need. Hence, stock must a

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages