Suppose the Economy's Production Function Is Y = AK⁰

question 95

Multiple Choice

Suppose the economy's production function is Y = AK^0.3N0.7.If K = 2000,N = 100,and A = 1,then Y = 246.If A rises by 10 percent,and K and N are unchanged,by how much does Y increase?

• A)5%
• B)10%
• C)15%
• D)20%

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Definitions:

Communication Process

The sequence of steps by which information is exchanged between senders and receivers, encompassing the transmission of messages and feedback.

Channels of Communication

The mediums through which information is transmitted from a sender to a receiver, such as emails, phone calls, and social media.

PlayStation 5

A next-generation video game console developed by Sony Interactive Entertainment, known for its advanced graphics, high-speed storage, and immersive gameplay experiences.

Receivers

Individuals or entities that are the intended audience of a communication message, responsible for interpreting and understanding the message conveyed.