If the Exponents in the Production Function Were 0

question 10

Multiple Choice

if the exponents in the production function were 0.80 for x₁ and 0.20 for x₂, this production function would exhibit (constant, increasing, decreasing) returns to scale and (would, would not) have diminishing technical rate of substitution.

• A)constant, would
• B)decreasing, would not
• C)increasing, would
• D)constant, would not
• E)decreasing, would

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Definitions:

Specific Learning Disability

A type of neurodevelopmental disorder that affects a person's ability to learn a specific academic skill, such as reading, writing, or math, despite having normal intelligence.

Career Plans

The outline of professional goals and the steps needed to achieve them, often involving education, training, and milestones.

Ginzberg

Refers to Eli Ginzberg, an economist known for his theories on career development and choice, emphasizing stages of decision-making that extend into adulthood.

Tentative Period

The second stage of Ginzberg’s theory, which spans adolescence when people begin to think in pragmatic terms about the requirements of various jobs and how their own abilities might fit with them.