Figure 7-1

question 319

Multiple Choice

Figure 7-1. On the horizontal axis, K/L represents capital (K) per worker (L) . On the vertical axis, Y/L represents output (Y) per worker (L) .

-Refer to Figure 7-1. The curve becomes flatter as the amount of capital per worker increases because of

• A) increasing returns to capital.
• B) increasing returns to labor.
• C) diminishing returns to capital.
• D) diminishing returns to labor.

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Definitions:

Sum

The result of adding two or more numbers or quantities.

Binomial Theorem

A fundamental theorem in algebra that describes the algebraic expansion of powers of a binomial. According to the theorem, it's possible to expand the polynomial u200b\( (a + b)^n \)u200b into a sum involving terms of the form u200b\( a^k b^{n-k} \)u200b.

Expand

In mathematics, to rewrite an expression or equation in an extended form by distributing or multiplying out brackets.

Pascal's Triangle

A triangular array of numbers in which the edges are 1's, and each interior number is the sum of the two numbers directly above it.