In the Production Function Y = F(K,NA),for a Given State

question 10

Multiple Choice

In the production function Y = f(K,NA) ,for a given state of technology,constant returns to scale implies that output (Y) will increase by 7% when

• A)K or NA increase by 7%.
• B)K and N increase by 7%.
• C)N or A increase by 7%.
• D)N and A increase by 7%.
• E) all of the above

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Definitions:

Probability of 1

Probability of 1 signifies an event that is certain to occur in the framework of probability theory.

Independent Events

Two or more events that do not affect each other's outcomes, meaning the occurrence of one event does not change the probability of the other.

Babies Born

Refers to the total number of live births in a specified population, area, or period, often used in demographic studies.

Same Sex

Referring to individuals of the same gender identity or sexual orientation, often used in discussions of rights and relationships.