Assume that a country's production function changes from $Y = 2 \sqrt { K }$ to $Y = 3 \sqrt { K }$
. Which of the following events could explain the change in this production function?

Question

Quizplus · Accepted Answer

The development of new technology in production would lead to a more efficient use of capital, resulting in a higher output for the same level of capital input.

Assume That a Country's Production Function Changes From Y=2KY = 2 \sqrt { K }Y=2K​

Assume That a Country's Production Function Changes From $Y = 2 \sqrt { K }$