Under certain circumstances,the production function Y = AF(K,N) can be rewritten as Y = ANF(K,N) .In this case,suppose that both K and N double.What happens to output?
A) It remains unchanged.
B) It is reduced by one half.
C) It is increased by a factor of 4.
D) It doubles.
Correct Answer:
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Q1: The fact that the production function relating
Q3: The total factor productivity is
A)a measure of
Q4: Which of the following statements is true?
A)The
Q5: The principle of diminishing marginal productivity of
Q6: The table below represents Freedonia's macroeconomic
Q7: In the production function Y = AF(K,N),A
Q8: The fact that the production function relating
Q9: The principle of diminishing marginal productivity of
Q10: The principle of diminishing marginal productivity implies
Q11: The marginal product of capital
A)is measured by
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