The UJava espresso stand needs two inputs, labor and coffee beans, to produce its only output, espresso. Producing an espresso always requires the same amount of coffee beans and the same amount of time. Which of the following production functions would appropriately describe the production process at UJava, where B represents ounces of coffee beans, and L represents hours of labor? A) Q = min(2B, 60L). B) Q = B^0.40L^0.60. C) Q =+. D) Q = 0.5B + 0.5L^0.5. E) None of the above.

Question

Quizplus · Accepted Answer

The Answer of The UJava espresso stand needs two inputs, labor and coffee beans, to produce its only output, espresso. Producing an espresso always requires the same amount of coffee beans and the same amount of time. Which of the following production functions would appropriately describe the production process at UJava, where B represents ounces of coffee beans, and L represents hours of labor? A) Q = min(2B, 60L). B) Q = B^0.40L^0.60. C) Q =+. D) Q = 0.5B + 0.5L^0.5. E) None of the above.

The UJava Espresso Stand Needs Two Inputs, Labor and Coffee