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Managerial Economics · Quiz 1 · 7 Jul 2024 · May 2024 term

Question 3: A firm finds that it requires exactly two full-time worke…

Question 3

+1 markOne correct option

A firm finds that it requires exactly two full-time workers to operate each piece of machinery in the factory. The production technology for this firm can most suitably represented by

  1. A

    Cobb-Douglas production function

  2. B

    Leontief production function

  3. C

    Linear production function

  4. D

    None

Show answer

Correct answer

  • B

    Leontief production function

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Question 3 of 19 in the IIT Madras BS Managerial Economics (Managerial Economics) Quiz 1 paper sat on 7 Jul 2024, in the May 2024 term (IIT M DEGREE AN EXAM QDB2 7 July 2024). It carries 1 mark.

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