If Production Function Q1 = F(L, K), Which of the Following

question 90

Multiple Choice

If production function q1 = f(L, K) , which of the following production functions illustrates neutral technical progress?

• A)q2 = f(1.25L, 1.25K)
• B)q2 = f(1.25L, K)
• C)q2 = f(L, 1.25K)
• D)q2 = 1.25 ∗ f(L, K)

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Definitions:

Central Tendency

A statistical measure that identifies the center of a data distribution, commonly represented by the mean, median, or mode.

Skewed Distribution

A statistical term for a distribution where the bulk of values are located on one side of the mean, resulting in a lack of symmetry.

Degree Of Variation

Degree Of Variation refers to the extent to which values of a particular variable or trait differ from each other in a set of data or population.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, often used in statistics.