Multiple Choice
Which of the following profit functions exhibits a Leontief production function?
A) = P × K0.75L0.50 − 20L − 35K
B) = P × min (2L, 5K) − 20L − 35K
C) = P × (3K + 4L) − 20L − 35K
D) = P × (3K0.5 + 4L0.5) 1/0.2 − 20L − 35K
Correct Answer:
Verified
Correct Answer:
Verified
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