Scenario 17-1

question 193

Multiple Choice

Scenario 17-1.An economy's production form takes the form Y = AF(L,K,H,N) .
-Refer to Scenario 17-1.If the production function has the constant-returns-to-scale property,then it could be rewritten as

• A) Y/L = AF(1,K/L,H/L,N/L)
• B) Y/L = AF(L,1,H/L,N/L)
• C) Y/L = AF(L,K/L,1,N/L)
• D) Y/L = AF(L,K/L,H/L,1)

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Definitions:

Table

A piece of furniture with a flat top and one or more legs, used as a surface for working, eating, or on which to place objects.

Grounded Cognition

The theory that cognitive processes are deeply rooted in bodily interactions with the environment.

Concept

A mental representation or an abstract idea that groups together objects, events, qualities, or relations on the basis of common properties.

Mental Simulations

The process of imagining or envisioning scenarios in one's mind to predict outcomes, solve problems, or plan actions.