A profit-maximizing competitive firm uses just one input, x. Its production function is q = 4x^1/2. The price of output is $28 and the factor price is $7. The amount of the factor that the firm demands is:

A profit-maximizing competitive firm uses just one input, x. Its production function is q = 4x^1/2. The price of output is $28 and the factor price is $7. The amount of the factor that the firm demands is:

A profit-maximizing competitive firm uses just one input, x. Its production function is q = 4x^1/2. The price of output is $28 and the factor price is $7. The amount of the factor that the firm demands is:




Answer: 64