Suppose the production function is Q = min{5K,3L). What is the input demand function for L O A. L= 5Q O B. L = Q/5 O C.L= (3/5)K O D. L = Q/3 O E. None of the above
Suppose the production function is Q = min{5K,3L). What is the input demand function for L O A. L= 5Q O B. L = Q/5 O C.L= (3/5)K O D. L = Q/3 O E. None of the above
Chapter9: Production Functions
Section: Chapter Questions
Problem 9.5P
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![Suppose the production function is Q = min{5K,3L). What is the input demand function for L
O A. L = 5Q
O B. L = Q/5
OC.L= (3/5)K
O D. L = Q/3
E. None of the above](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F943645ea-34c7-4dcc-902a-a0b2b0d3124d%2F31a7b2c9-60aa-403f-b127-5e67cdce6b4d%2Fukl159w_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose the production function is Q = min{5K,3L). What is the input demand function for L
O A. L = 5Q
O B. L = Q/5
OC.L= (3/5)K
O D. L = Q/3
E. None of the above
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