The Next Questions Refer to the Following

question 19

Multiple Choice

The next questions refer to the following.
Suppose the economy has TFP = 10, there are 400 hours worked, and 9 unit of capital and the Cobb-Douglas production function is .
-Output is currently

• A) 36,000
• B) 600
• C) 12,000
• D) 1,800
• E) 6,000

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Definitions:

Wage Earners

Individuals who are compensated for their labor with salaries or wages.

Artisan

A skilled craftsperson who makes products by hand, often with traditional methods.

Factory Worker

An individual who works in a manufacturing facility, responsible for operating machinery, assembling products, or supervising production processes.

Factory System

The factory system is an industrial production method that uses machinery and a systematic approach to manufacturing goods, centralizing workers and machines in a single location.