In the Mathematical Formulation of the Short-Run Production Function

question 72

Multiple Choice

In the mathematical formulation of the short-run production function:

• A)the quantity of output is usually assumed to be fixed.
• B)the quantity of capital employed is usually assumed to be fixed.
• C)the quantity of both labor and capital employed are usually assumed to be fixed.
• D)the quantity of both labor and capital must be allowed to vary so that output can vary in the short run.

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