For a Linear Production Function, Q = F(L,K)= 4L

question 27

Multiple Choice

For a linear production function, q = f(L,K) = 4L + 2K, what is the short-run production function given that capital is fixed at = 50?

• A)q = 4L + 100
• B)q = 4L + 50
• C)q = 4L
• D)q = 104

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Definitions:

Fundamental Attribution Error

A cognitive bias where individuals attribute others' actions to their character or personality, rather than external factors.

Self-Effacing Error

The tendency to attribute one’s successes to external factors while blaming oneself for failures, commonly observed in certain cultures.

Signal Detection Error

occurs when an observer incorrectly perceives or fails to perceive a stimulus, leading to false positives or negatives in the detection task.

Self-Serving Error

A common bias in which people take credit for their successes while attributing failures to external factors.