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    Managerial Economics and Business Strategy Study Set 1
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    Exam 5: The Production Process and Costs
  5. Question
    Suppose the Production Function Is Given by Q = Min{K,L}
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Suppose the Production Function Is Given by Q = Min{K,L}

Question 57

Question 57

Multiple Choice

Suppose the production function is given by Q = min{K,L}.How much output is produced when 10 units of labor and 9 units of capital are employed?


A) 0
B) 4
C) 9
D) 13

Correct Answer:

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