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