Scenario 25-1

question 321

Multiple Choice

Scenario 25-1. An economy's production form takes the form Y = AFL, K, H, N) .
-Refer to Scenario 25-1. If the production function has the constant-returns-to-scale property, then it is possible that the specific form of the production function is

• A) Y = 4L + 2K + 3H + N
• B) Y = L + K + H + N)/4
• C) Y =2
• D) Y = 4

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Definitions:

Law Of Partnership

Legal principles governing the operation, formation, and dissolution of partnership businesses.

Torts

Torts refer to civil wrongs recognized by law as grounds for a lawsuit, resulting in injury or harm to someone, for which the injured party may receive compensation or relief.

Partnership Business

A type of business structure where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Agreement.

Partnership

A legal arrangement in which two or more individuals share ownership of a business, including its profits, liabilities, and operational responsibilities.