Suppose That the Production Function for a Product Is

question 61

Multiple Choice

Suppose that the production function for a product is , where x represents the number of work-hours and y represents the available capital (per week) . Find the marginal productivity of x. ​

---

Definitions:

Samuelson

Refers to Paul Samuelson, a prominent economist known for his contributions to many fields of economics.

Solow

Refers to the Solow-Swan model, an economic model of long-term economic growth set within the framework of neoclassical economics that illustrates how a country's level of capital stock, labor force, and technology can affect its total output or GDP.

Aggregate Demand

The aggregate request for every product and service within an economy at a specified time and price point.

Wages

Monetary compensation paid by an employer to an employee in exchange for work performed.