For the Cobb-Douglas Production Function F(L,K)= AL^αK^β,a Factor-Neutral Technical Change

question 50

Multiple Choice

For the Cobb-Douglas production function F(L,K) = AL^αK^β,a factor-neutral technical change would be represented by:

• A) an increase in the value of α.
• B) an increase in the value of β.
• C) values of α and β for which α + β = 1.
• D) an increase in the value of A.

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Definitions:

Resonance Stabilized Radical

A radical species whose stability is enhanced by the distribution of its unpaired electron over multiple atoms via resonance.

1-Butene

A simple aliphatic hydrocarbon with the formula C4H8, classified as an alkene due to the presence of a double bond between carbon atoms.

Br Radical

Bromine radical, a highly reactive species with an unpaired electron, resulting from the homolytic cleavage of bromine.

Hydrogen Atom

The simplest type of atom, consisting of one proton in the nucleus and one electron bound to the nucleus.