Multiple Choice
Suppose the production function for coffee (C) is C = min(B,W) ,where B = beans in pounds and W = water in gallons. Suppose the price of water is $.10 per gallon and the price of beans is $10 per pound.The expansion path is
A) B = 10W
B) B = .1W
C) B = W
D) -10 = B + W
Correct Answer:
Verified
Correct Answer:
Verified
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