A firm uses inputs L and K to produce output Q, and production is Q = min {2L,4K}. Which of the following baskets (L, K) will produce exactly 40 units of Q?

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-the personal ownership of property

-the influence of consumer demand

explanation:

the command economy prohibits the personal ownership of property.

basically, command economy is defined as the system where a nation’s government is the one that makes all the decisions when it comes to its economy. the government is the one who controls the production of goods and services and regulates the prices and salaries.

therefore, since that the government is the authority, then all kinds of personal ownership of property is prohibited by them.