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QUESTION
oduction Function ( = 0) Q = min(aK, bL) a, b gt; 0 Such firms will always operate along the ray where (K/L) is constant IRS, CRS, or DRS? Realistic?...
Fixed-Proportions (Leontief) Production Function ( = 0) Q = min(aK, bL) a, b > 0 Such firms will always operate along the ray where (K/L) is constant IRS, CRS, or DRS? Realistic?
