Exam 18: Profit Maximization-Part B

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the production function is given by f(x)=4x^1/2.If the price of the commodity produced is $90 per unit and the cost of the input is $45 per unit, how much profit will the firm make if it maximize profits?

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Question 1

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the production function is f(x₁, x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $4 and the price of factor 2 is $6, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

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Question 2

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when Farmer Hoglund applies N pounds of fertilizer per acre, the marginal product of fertilizer is 1 - N/200 bushels of corn.If the price of corn is $1 per bushel and the price of fertilizer is $.20 per pound, then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

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Question 3

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the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $45 per unit, how much profit will the firm make if it maximize profits?

(Multiple Choice)

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Question 4

the production function is f(x₁, x₂)= x^1/2₁x^1/2₂.If the price of factor 1 is $10 and the price of factor 2 is $20, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

(Multiple Choice)

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Question 5

the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $12 and the price of output is 12, how many units of labor will the firm hire?

(Multiple Choice)

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Question 6

the production function is given by F(L)=6L^2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16, how many units of labor will the firm hire?

(Multiple Choice)

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Question 7

the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $50 per unit and the cost of the input is $25 per unit, how much profit will the firm make if it maximize profits?

(Multiple Choice)

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Question 8

The production function is given by F(L)=6L^2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16, how many units of labor will the firm hire?

(Multiple Choice)

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Question 9

the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $8 and the price of output is 4, how many units of labor will the firm hire?

(Multiple Choice)

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Question 10

if the price of the output good is $4, the price of factor 1 is $1, and the price of factor 2 is $3, what is the profit-maximizing amount of factor 1?

(Multiple Choice)

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Question 11

the production function is given by F(L)=6L^2/3.Suppose that the cost per unit of labor is $12 and the price of output is 9, how many units of labor will the firm hire?

(Multiple Choice)

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Question 12

the production function is f(x₁, x₂)= x^1/2₁x^1/2₂.If the price of factor 1 is $8 and the price of factor 2 is $4, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

(Multiple Choice)

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Question 13

when Farmer Hoglund applies N pounds of fertilizer per acre, the marginal product of fertilizer is 1 - N/200 bushels of corn.If the price of corn is $3 per bushel and the price of fertilizer is $.30 per pound, then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

(Multiple Choice)

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Question 14

the production function is f(x₁, x₂)= x^1/2₁x^1/2₂.If the price of factor 1 is $8 and the price of factor 2 is $16, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

(Multiple Choice)

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Question 15

the production function is f(x₁, x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $14 and the price of factor 2 is $7, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

(Multiple Choice)

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(40)

Question 16

when Farmer Hoglund applies N pounds of fertilizer per acre, the marginal product of fertilizer is 1 - N/200 bushels of corn.If the price of corn is $4 per bushel and the price of fertilizer is $.40 per pound, then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

(Multiple Choice)

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Question 17

The production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $15 per unit, how much profit will the firm make if it maximize profits?

(Multiple Choice)

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(35)

Question 18

when Farmer Hoglund applies N pounds of fertilizer per acre, the marginal product of fertilizer is 1 - N/200 bushels of corn.If the price of corn is $4 per bushel and the price of fertilizer is $.40 per pound, then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

(Multiple Choice)

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(34)

Question 19

when Farmer Hoglund applies N pounds of fertilizer per acre, the marginal product of fertilizer is 1 - N/200 bushels of corn.If the price of corn is $1 per bushel and the price of fertilizer is $.40 per pound, then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

(Multiple Choice)

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(30)

Question 20

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Exam 18: Profit Maximization-Part B

the production function is given by f(x)=4x1/2.If the price of the commodity produced is $90 per unit and the cost of the input is $45 per unit, how much profit will the firm make if it maximize profits?

the production function is f(x1, x2)=x1/21x1/22.If the price of factor 1 is $4 and the price of factor 2 is $6, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

the production function is given by f(x)= 4x1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $45 per unit, how much profit will the firm make if it maximize profits?

the production function is f(x1, x2)= x1/21x1/22.If the price of factor 1 is $10 and the price of factor 2 is $20, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

the production function is given by F(L)= 6L2/3.Suppose that the cost per unit of labor is $12 and the price of output is 12, how many units of labor will the firm hire?

the production function is given by F(L)=6L2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16, how many units of labor will the firm hire?

the production function is given by f(x)= 4x1/2.If the price of the commodity produced is $50 per unit and the cost of the input is $25 per unit, how much profit will the firm make if it maximize profits?

The production function is given by F(L)=6L2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16, how many units of labor will the firm hire?

the production function is given by F(L)= 6L2/3.Suppose that the cost per unit of labor is $8 and the price of output is 4, how many units of labor will the firm hire?

if the price of the output good is $4, the price of factor 1 is $1, and the price of factor 2 is $3, what is the profit-maximizing amount of factor 1?

the production function is given by F(L)=6L2/3.Suppose that the cost per unit of labor is $12 and the price of output is 9, how many units of labor will the firm hire?

the production function is f(x1, x2)= x1/21x1/22.If the price of factor 1 is $8 and the price of factor 2 is $4, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

the production function is f(x1, x2)= x1/21x1/22.If the price of factor 1 is $8 and the price of factor 2 is $16, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

the production function is f(x1, x2)=x1/21x1/22.If the price of factor 1 is $14 and the price of factor 2 is $7, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

The production function is given by f(x)= 4x1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $15 per unit, how much profit will the firm make if it maximize profits?

Budget Constraint-Part A

Budget Constraint-Part B

Preferences-Part A

Preferences-Part B

Utility-Part A

Utility-Part B

Choice-Part A

Choice-Part B

Demand-Part A

Demand-Part B

Revealed Preference-Part A

Revealed Preference-Part B

Slutsky Equation-Part A

Slutsky Equation-Part B

Buying and Selling-Part A

Buying and Selling-Part B

Intertemporal Choice-Part A

Intertemporal Choice-Part B

Asset Markets-Part A

Asset Markets-Part B

Uncertainty-Part A

Uncertainty-Part B

Risky Assets-Part A

Risky Assets-Part B

Consumers Surplus-Part A

Consumers Surplus-Part B

Market Demand-Part A

Market Demand-Part B

Equilibrium-Part A

Equilibrium-Part B

Auctions-Part A

Auctions-Part B

Technology-Part A

Technology-Part B

Profit Maximization-Part A

Cost Minimization-Part A

Cost Minimization-Part B

Cost Curves-Part A

Cost Curves-Part B

Firm Supply-Part A

Firm Supply-Part B

Industry Supply-Part A

Industry Supply-Part B

Monopoly-Part A

Monopoly-Part B

Monopoly Behavior-Part A

Monopoly Behavior-Part B

Factor Markets-Part A

Factor Markets-Part B

Oligopoly-Part A

Oligopoly-Part B

Game Theory-Part A

Game Theory-Part B

Game Applications-Part A

Game Applications-Part B

Behavioral Economics

Exchange-Part A

Exchange-Part B

Production-Part A

Production-Part B

Welfare-Part A

Welfare-Part B

Externalities-Part A

Externalities-Part B

the production function is given by f(x)=4x^1/2.If the price of the commodity produced is $90 per unit and the cost of the input is $45 per unit, how much profit will the firm make if it maximize profits?

the production function is f(x₁, x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $4 and the price of factor 2 is $6, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $45 per unit, how much profit will the firm make if it maximize profits?

the production function is f(x₁, x₂)= x^1/2₁x^1/2₂.If the price of factor 1 is $10 and the price of factor 2 is $20, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $12 and the price of output is 12, how many units of labor will the firm hire?

the production function is given by F(L)=6L^2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16, how many units of labor will the firm hire?

the production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $50 per unit and the cost of the input is $25 per unit, how much profit will the firm make if it maximize profits?

The production function is given by F(L)=6L^2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16, how many units of labor will the firm hire?

the production function is given by F(L)= 6L^2/3.Suppose that the cost per unit of labor is $8 and the price of output is 4, how many units of labor will the firm hire?

the production function is given by F(L)=6L^2/3.Suppose that the cost per unit of labor is $12 and the price of output is 9, how many units of labor will the firm hire?

the production function is f(x₁, x₂)= x^1/2₁x^1/2₂.If the price of factor 1 is $8 and the price of factor 2 is $4, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

the production function is f(x₁, x₂)= x^1/2₁x^1/2₂.If the price of factor 1 is $8 and the price of factor 2 is $16, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

the production function is f(x₁, x₂)=x^1/2₁x^1/2₂.If the price of factor 1 is $14 and the price of factor 2 is $7, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

The production function is given by f(x)= 4x^1/2.If the price of the commodity produced is $100 per unit and the cost of the input is $15 per unit, how much profit will the firm make if it maximize profits?