In a Production Function Where Capital (K)is Raised to the Power

question 61

Multiple Choice

In a production function where capital (K) is raised to the power 0.3 and labour (N) is raised to the power 0.7

• A)the production function relating output and labour is not as sharply bowed as the production function relating output and capital.
• B)the production function relating output and labour is as sharply bowed as the production function relating output and capital.
• C)the production function relating output and capital is not as sharply bowed as the production function relating output and labour.
• D)the production function relating output and capital is bowed,but the production function relating output and labour is not bowed.

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Definitions:

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