Suppose the Production of Mp3 Players Can Be Represented by the Following

question 46

Multiple Choice

Suppose the production of mp3 players can be represented by the following production function: q = L^0.4K^0.4. The firm currently produces q₁ units.If all inputs doubled,the new level of output will equal

• A) 2^0.4 q₁.
• B) 2^0.8 q₁.
• C) 0.8 q₁.
• D) 1.6 q₁.

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