Scenario 25-1

question 140

Multiple Choice

Scenario 25-1.An economy's production form takes the form Y = AF(L,K,H,N) .
-Refer to Scenario 25-1.If the production function has the constant-returns-to-scale property,then it can be rewritten as

• A)Y/L = AF(1,K/L,H/L,N/L)
• B)Y/L = AF(L,1,H/L,N/L)
• C)Y/L = AF(L,K/L,1,N/L)
• D)Y/L = AF(L,K/L,H/L,1)

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Definitions:

Offeree

Offeree is a legal term referring to the party to whom an offer is made in contract law, who can then accept, reject, or counteroffer.

Requested Act

A specific action or operation that someone asks or formally requires someone else to perform.

Title Deeds

Legal documents proving ownership of property or land.

Acceptance

In contract law, it is the expression of assent to the terms of an offer in such a manner that binds both the offeror and offeree to a contract.