When the Production Function Is Given by Q = L

question 5

Multiple Choice

When the production function is given by Q = L, which of the following statements is true?

• A) TC = wQ², L = Q² and AC = w
• B) TC = w - Q, L = Q and AC = w
• C) TC = wQ, L = Q and AC = w
• D) TC = wQ, L = Q and AC = L

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