Exhibit 8.2
-Refer to Exhibit 8.2, which shows three different per-worker production functions: PF₁, PF₂, and PF₃. If PF₁ is the initial per-worker production function for a farm, which of the following reflects an increase in the number of tractors per worker in the farm?
A) a movement from point D to point C
B) an upward shift from PF₁ to PF₂
C) a downward shift from PF₁ to PF₃
D) a movement from point C to point D
E) a movement from point D to point B
Correct Answer:
Verified
Q38: A decrease in the capital-labor ratio would
Q52: If an increase in capital per worker
Q54: Exhibit 8.2 Q55: The law of diminishing marginal returns states Q55: Capital deepening refers to: Q56: Which of the following is assumed to Q58: An increase in the quantity of capital
A)an increase in the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents