$$\text { A production function of the form } Q = A L ^ { \alpha } K ^ { \beta } \text { is a(n): }$$

question 47

Multiple Choice

$$\text { A production function of the form } Q = A L ^ { \alpha } K ^ { \beta } \text { is a(n) : }$$

• A)isoquant function
• B)Cobb-Douglas production function
• C)fixed-proportions function
• D)perfect complements function

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Definitions:

Law of Small Numbers

The law of small numbers is the cognitive bias that leads people to draw broad conclusions from a small set of data or experiences, potentially misrepresenting the larger picture.

Extremity

The degree to which an attitude, opinion, or action is far removed from the moderate or average position.

Stereotypes

Generalized beliefs or perceptions about groups of people that are often oversimplified and not based on personal experience.

Disconfirming Evidence

Information or data that challenges or contradicts existing beliefs or hypotheses, often used in the context of scientific research and critical thinking.