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    Exam 7: Costs
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    If a Production Function Is Represented as Q = L<sup>α</sup>
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If a Production Function Is Represented as Q = Lα

Question 13

Question 13

Multiple Choice

If a production function is represented as q = Lα Kβ,the long-run average cost curve will be horizontal as long as


A) α + β = 0.
B) α + β = 1.
C) q > 0.
D) L = K.

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