Suppose the Economy's Production Function Is Y = AK⁰

question 26

Multiple Choice

Suppose the economy's production function is Y = AK⁰.³ᴺ⁰.⁷.If K = 1000 and N = 50,then
Y = 2000.What is Y if K = 2000 and N = 100?

• A)4000
• B)3500
• C)3400
• D)3000

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Definitions:

Low Family Income

A socioeconomic status indicating a family's earnings are significantly below the median income levels for the broader population.

Privacy

The right of individuals to keep their personal affairs confidential and to decide how information about themselves is shared with others.

Inductive Discipline

Strategy to control children’s behavior that relies on reasoning and discussion.

Corporal Punishment

A form of physical discipline that involves the deliberate infliction of pain as retribution for an offense, or for the purpose of disciplining or reforming a wrongdoer.