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Joe owns a small coffee shop, and his production function is q = 3KL where q is total output in cups per hour, K is the number of coffee machines (capital) , and L is the number of employees hired per hour (labor) . If Joe's capital is currently fixed at K=3 machines, what is his short-run production function?
Exposure Therapy
A behavioral therapy technique that involves confronting fear or anxiety-inducing situations, objects, or thoughts directly to reduce the emotional response.
Venomous Snakes
Reptiles capable of injecting venom through their bite, which can be harmful or lethal to humans.
Enjoy Snakes
A positive attitude or feeling of pleasure derived from interactions with or observations of snakes.
Conditioned Stimulus
A previously neutral stimulus that, after becoming associated with an unconditioned stimulus, triggers a conditioned response.
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