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Question: A competitive firm's production function is f(x1, x2) = 12x1/21 + 4x1/22. 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? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M93121144

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