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Question
Joe owns a small coffee shop, and his production function is q = 3KL where q is total output in cups per hour, K is the number of coffee machines (capital), and L is the number of employees hired per hour (labor). If Joe's capital is currently fixed at K=3 machines, what is his short-run production function?A) q = 3L
B) q = 3L2
C) q = 9L
D) q = 3K2
Answer
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Related questions
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Q:
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Q:
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Q:
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Q:
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Q:
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Q:
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Q:
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