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A Firm Uses 3 Factors of Production

Question 1

Multiple Choice

A firm uses 3 factors of production. Its production function is f(x, y, z) = min{ A firm uses 3 factors of production. Its production function is f(x, y, z)  = min{   }. If the amount of each input is multiplied by 3, its output will be multiplied by  A)  81. B)  27. C)  243. D)  0.04. E)  The answer depends on the original choice of x, y, and z. }. If the amount of each input is multiplied by 3, its output will be multiplied by


A) 81.
B) 27.
C) 243.
D) 0.04.
E) The answer depends on the original choice of x, y, and z.

Correct Answer:

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