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:

Females

This term denotes individuals of a species that are biologically characterized by the production of ova or eggs, distinct from males in sexual dimorphism.

Menstrual Period

The monthly shedding of the uterine lining in females of reproductive age, accompanied by bleeding through the vagina.

Renal Problem

Any disorder or condition that affects the functioning of the kidneys.

Waxy

Having the characteristics of wax; often used to describe a texture or appearance, such as skin that looks or feels like wax.