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Suppose that you run a lemonade stand and it takes 2 lemon (L) and 1 cup of sugar (S) to produce 0.5 cup of lemonade (Q). Problem 1: Which the following production functions best represent the operations of the lemonade stand?
Group of answer choices
Option 1: Q=f(L,S)=max{2L,0.5*S}
Option 2: Q=f(L,S)=min{L,S}
Option 3: Q=f(L,S)=min{0.5L,S}
Option 4: Q=f(L,S)=2L-0.5*S
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