Scenario 7.2: the Production Function for Earthquake Detectors (Q) Is Given as Given

question 175

Multiple Choice

Scenario 7.2:
The production function for earthquake detectors (Q) is given as follows:
Q = 4K^1/2L^1/2
where K is the amount of capital employed and L is the amount of labor employed. The price of capital, P_K, is $18 and the price of labor, P_L, is $2.
-Refer to Scenario 7.2. This production function is an example of which of the following types of production functions?

• A) Cobb-Douglas
• B) Leontief
• C) Fixed proportions
• D) Lagrange
• E) none of the above

---

Definitions:

Production Process

The sequence of operations or activities involved in the creation and manufacturing of goods or services.

Microchip Pilot Program

An initiative to test or implement the use of microchips in a specific context, often for tracking, identification, or enhancing functionalities in various applications.

Embedded Chip

A small electronic component implanted in devices or systems to perform specific computing or processing tasks.

TPS

Transaction Processing System (TPS) is a type of information system that collects, stores, modifies, and retrieves the data transactions of an enterprise.