Multiple Choice
Suppose the w = $20 and r = $30.The isocost line for a firm in this industry is:
A) C = 20K + 30L.
B) K = 0.033C − 0.66L.
C) 1.5L + K = 0.5C.
D) Depends entirely on the functional form of the production function.
Correct Answer:
Verified
Correct Answer:
Verified
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