A Production Function of the Form $Q = A L ^ { a } K ^ { \beta }$

question 6

Multiple Choice

A production function of the form $Q = A L ^ { a } K ^ { \beta }$ is a(n)

• A) isoquant function
• B) Cobb-Douglas production function
• C) fixed-proportions function
• D) perfect complements function

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Definitions:

Reinforcement

In psychology, a process by which the likelihood of a behavior is increased through the administration of positive stimuli (rewards) or the removal of negative stimuli.

Intensity of the Punishment

Intensity of the Punishment refers to the severity or harshness of a penalty intended to modify behavior through aversive stimuli or consequences.

Response

A reaction to a specific stimulus or situation, which can be psychological, physiological, or behavioral.

Delay

The act of postponing or holding off an event, action, or operation.