Scenario 7-1

question 313

Multiple Choice

Scenario 7-1. An economy's production form takes the form Y = AF(L, K, H, N) .
-Refer to Scenario 7-1. 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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