The Following Figure Shows Two Aggregate Production Functions

question 46

Multiple Choice

The following figure shows two aggregate production functions.

-Refer to the figure above.Which of the following statements hold true regarding aggregate production function 2?

• A) Up to point A, the law of diminishing marginal product holds for human capital.
• B) Up to point A, the law of diminishing marginal product holds for the physical capital stock.
• C) Up to point A, increases in the physical capital stock lead to decreased output.
• D) Up to point A, increases in human capital lead to constant aggregate output.

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