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A firm has the production function f(x, y) = y + min{x, y}. The isoquants for the firm if x is on the horizontal axis:
A firm has the production function f(x, y) = y + min{x, y}. The isoquants for the firm if x is on the horizontal axis:
a) are L-shaped with the corners of the L's on the line y = x.
b) are L-shaped with the corners of the L's on the line y = x + 1.
c) consist of two line segments, one vertical and the other with a slope of 1
d) consist of two line segments, one horizontal and the other with a slope of 1.
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