Use the following to answer questions 21-22:
Table 6.3
-(Table 6.3) This table illustrates a _____ production function because capital and labor _____.
A) short-run; are used in equal increments
B) long-run; can both be varied
C) long-run; are used in equal increments
D) short-run; can both be varied

Question

Use the following to answer questions 21-22:
Table 6.3 
-(Table 6.3) This table illustrates a _____ production function because capital and labor _____.
A) short-run; are used in equal increments 
B) long-run; can both be varied 
C) long-run; are used in equal increments 
D) short-run; can both be varied

Quizplus · Accepted Answer

The table shows a long-run production function because both capital and labor can be varied.

Use the Following to Answer Questions 21-22