Assume the Production Function Is Represented by Y = F

question 36

Multiple Choice

Assume the production function is represented by Y = F (K, AN) . Now suppose the variable, A, increases by 20%. This implies that:

• A) the same output can be produced with 20% more labour.
• B) the same output can be produced with 20% less labour.
• C) the same quantity of labour can produce half the output.
• D) the same output can be produced with half the capital.
• E) the same quantity of labour can produce twice the output.

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Buyers

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Consideration Criteria

The set of standards or attributes that consumers use to evaluate and differentiate between choices of products or services.

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