Profit Functions Are Homogeneous of Degree

question 11

Multiple Choice

Profit functions are homogeneous of degree:

• A)zero in input and output prices.
• B)zero in input prices.
• C)one in input and output prices.
• D)one in input prices.

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Definitions:

Construction Projects

Structured endeavors with a defined beginning and end, undertaken to create unique products, services, or results in the field of construction.

Single-use Plan

A strategy designed to address a specific, one-time issue or problem, not intended for repeated use.

Budget

An estimate of income and expenditure for a set period of time, often used as a plan for financial management and goal setting.

Allocation

The distribution of resources or tasks among individuals, groups, or organizations based on a plan or a set of priorities.