Assume That the Production Function Is Cobb-Douglas with Parameter α

question 33

Multiple Choice

Assume that the production function is Cobb-Douglas with parameter α = 0.3. If capital and labour are paid their marginal products, they receive the shares of income:

• A)0.3 and 0.3.
• B)0.7 and 0.7.
• C)0.3 and 0.7.
• D)0.7 and 0.3.

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Definitions:

National Average

A statistic that represents an average value on a particular metric across the entire nation.

Surgical Site Infections

Infections that occur after surgery in the part of the body where the surgery took place, often involving the skin, organs, or implanted material.

Sample Size

The number of observations or data points collected in a study or used in a statistical sample.

National Average

The overall average across a nation for any measurable statistic, reflecting a general state or level for comparison.