In the Following Production Function,Y = F(K,NA),suppose a Increases by 20%.This

question 69

Multiple Choice

In the following production function,Y = f(K,NA) ,suppose A increases by 20%.This 20% increase in A implies that

• A)the same output can be produced with 20% less labor.
• B)the effective quantity of labor has increased by 20%.
• C)output will increase by less than 20%.
• D)all of the above
• E) both A and C.

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Definitions:

Old

Relating to something or someone of advanced age or with a long history.

Married

The legal or formally recognized union of two people as partners in a personal relationship.

Children

Young human beings who are not yet adults, typically characterized by rapid physical growth and development, as well as progression in cognitive and social abilities.

Human Resource Planning

The process organizations use to ensure they have the right number and types of people, at the right time, to effectively execute their business strategy.