The Following Is Not a Property of the Translog Cost

question 27

Multiple Choice

The following is not a property of the translog cost function:

• A)The constant elasticity cost function is a special case of it.
• B)The average cost may be U-shaped.
• C)It is a good approximation for almost any production function.
• D)It only applies to long run total costs.

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Definitions:

Umbilical Vein

The blood vessel in a developing embryo and fetus that carries oxygenated blood from the placenta to the growing baby.

Ligamentum Venosum

A fibrous remnant of the fetal ductus venosus that connects the left branch of the portal vein to the inferior vena cava.

Ligamentum Arteriosum

A small ligament that is the remnant of the ductus arteriosus formed within three weeks after birth.

Ligamentum Teres

A round ligament of the hip joint that connects the femur and the acetabulum, playing a role in hip stabilization.