Suppose that q = 40, L = 5, and K = 10 is a point on the production function q=f(L, K). Is it posssible for q = 40, L=5, and K= 11 to also be a point on this production function? Why or why not? The combination q =40, L=5, and K=11 O A. cannot be a point because we assume production functions are comprised of fixed inputs. O B. can be a point because we assume production functions hold technology constant. C. cannot be a point because we assume production functions are efficient. O D. cannot be a point because we assume production functions represent the short run. E. can be a point because we assume production functions exhibit diminishing returns.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Suppose that q = 40, L = 5, and K= 10 is a point on the production function
q=f(L, K).
Is it posssible for q = 40, L = 5, and K = 11 to also be a point on this production function? Why or why not?
The combination q =40, L = 5, and K=11
A. cannot be a point because we assume production functions are comprised of fixed inputs.
B. can be a point because we assume production functions hold technology constant.
C. cannot be a point because we assume production functions are efficient.
D. cannot be a point because we assume production functions represent the short run.
E. can be a point because we assume production functions exhibit diminishing returns.
Transcribed Image Text:Suppose that q = 40, L = 5, and K= 10 is a point on the production function q=f(L, K). Is it posssible for q = 40, L = 5, and K = 11 to also be a point on this production function? Why or why not? The combination q =40, L = 5, and K=11 A. cannot be a point because we assume production functions are comprised of fixed inputs. B. can be a point because we assume production functions hold technology constant. C. cannot be a point because we assume production functions are efficient. D. cannot be a point because we assume production functions represent the short run. E. can be a point because we assume production functions exhibit diminishing returns.
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