An Increase in the Number of Hours Worked Would

question 156

Multiple Choice

An increase in the number of hours worked would

• A)shift the production function upward.
• B)shift the production function downward.
• C)shift the production function outward.
• D)not shift the production function.

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Definitions:

Y Axis

The vertical axis in a graph or chart, typically used to represent the range of a second variable in comparison to the first variable on the X axis.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded.

Movement

Refers to a change in position, location, or state of an object or concept over time.

Substitute Goods

These are goods that can be used in place of one another, such that the increase in price of one leads to an increase in demand for the other.