Among the Assumptions Made About the Production Function Y =

question 12

Multiple Choice

Among the assumptions made about the production function Y = A • (K,L) is:

• A)diminishing marginal product of labour.
• B)constant returns to scale.
• C)diminishing marginal product of capital.
• D)all of the above.

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Definitions:

Itching

An uncomfortable sensation on the skin that provokes the desire to scratch, often caused by irritation, allergies, or infections.

Anus

The external opening of the anal canal.

Tongue

The muscular organ of the mouth that assists in the production of speech, contains the taste buds, and provides the ability to swallow.

Papillae Projections

Small, nipple-like structures on the surface of an organ, such as the tongue, that often contain taste buds.