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Suppose that qequals50, Lequals5, and Kequals5 is a point on the production function qequalsf(L, K). Is it posssible for qequals50, Lequals5, and Kequals6 to also
Suppose that qequals50, Lequals5, and Kequals5 is a point on the production function qequalsf(L, K). Is it posssible for qequals50, Lequals5, and Kequals6 to also be a point on this production function? Why or why not? Part 2 The combination qequals50, Lequals5, and Kequals6 Part 3 A. can be a point because we assume production functions hold technology constant. B. cannot be a point because we assume production functions are comprised of fixed inputs. C. cannot be a point because we assume production functions represent the short run. D. cannot be a point because we assume production functions are efficient. E. can be a point because we assume production functions exhibit diminishing returns
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