A cost function associated with the Leontief technology is a
A) straight line
B) concave curve
C) convex curve

Name: A cost function associated with the Leontief technology is a A) straight line B) concave curve C) convex curve
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Question

Quizplus · Accepted Answer

The cost function associated with the Leontief technology is a straight line because it represents a fixed proportion of inputs, meaning that the cost increases linearly with the level of output.

A Cost Function Associated with the Leontief Technology Is a