The Following Is Not a Property of the Translog Cost

question 27

Multiple Choice

The following is not a property of the translog cost function:

• A)The constant elasticity cost function is a special case of it.
• B)The average cost may be U-shaped.
• C)It is a good approximation for almost any production function.
• D)It only applies to long run total costs.

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Definitions:

Serotonin

A neurotransmitter involved in regulating mood, sleep, appetite, and pain.

Norepinephrine

A neurotransmitter and hormone involved in the body’s fight-or-flight response, affecting attention and responding actions.

Depressed Mood

A state of persistent sadness, a key symptom of depression that can affect a person's thoughts, behavior, feelings, and sense of well-being.

Neurotransmitter

Chemical substances in the nervous system that transmit signals across a synapse from one neuron to another.