Suppose the Production Function for Coffee (C)is C = Min(B,W)where

question 37

Multiple Choice

Suppose the production function for coffee (C) is C = min(B,W) where B = beans in pounds and W = water in gallons and the price of water is $.10 per gallon and the price of beans is $10 per pound.The expansion path

• A) depends on the price of beans only.
• B) depends on the price of water only
• C) depends on the price of neither beans nor water.
• D) depends of the costs of both beans and water.

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