Business
Business, 12.11.2019 02:31, quarrella

Which of the following statements is (are) true? i. if labor and capital are perfect substitutes in production, the isoquant is a downward-sloping line. ii. if a company needs to use inputs in fixed proportion such that the capital to labor ratio is always 2, the firm's isoquants are l-shaped. iii. if the production function is given by q = min(14, 7), the firm can produce, at minimum, 21 units of output.

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Which of the following statements is (are) true? i. if labor and capital are perfect substitutes in...

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