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Which equation represent a production function with perfectly substitutable inputs? hint: perfectly substitutable inputs are substitutable at any constant rate, and not necessarily a rate
Which equation represent a production function with perfectly substitutable inputs? hint: perfectly substitutable inputs are substitutable at any constant rate, and not necessarily a rate of 1:1.
(select each correct answer)
a. q = sqrt K + sqrt L
b. q = sqrt K + L
c. q = sqrt KL
d. q= sqrt (K+L)
e. q = KL
f q = K + L
g. q = 4K + L
h. q = 4K + 4L
i = q = min {K,L}
j q = min { sqrt K, sqrt L}
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