Suppose That a Firm Uses Both Labour (L)and Capital (K)as

question 39

Multiple Choice

Suppose that a firm uses both labour (L) and capital (K) as inputs.The firm's long-run production function is Q = F(L,K) = 5ÖLÖK.If the firm has 100 units of capital,what is its short-run production function?

• A) Q = F(K) = 50 ÖK
• B) Q = F(L) = 500Ö L
• C) Q = F(L,K) = 50Ö LÖK
• D) Q = F(L) = 50Ö L

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