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

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
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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
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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