Suppose that the production function can be written as Q = - ProProfs
     

Suppose that the production function can be written as Q = K0.6 L0.3 . In the long run,



A. LRAC is negatively sloped for all levels of output.
B. The firm hires twice as much capital as labor
C. LRAC is positively sloped for all levels of output.
D. The marginal product of capital is twice the marginal product of labor
E. None of the above

This question is part of Chapter 7: Microeconomics

+ AnswerRequest Answer
...

1 Answer

John Smith

John Smith

Answered on Mar 18, 2017

C. LRAC is positively sloped for all levels of output.
  Reply

Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer

Email Sent
We have sent an email to your address "" with instructions to reset your password.