In the production function Y = A • F(K,L) , Y is:
A) good Y.
B) production.
C) the marginal product of good Y.
D) constant returns to scale.
Correct Answer:
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Q12: World growth data shows that from 1960
Q13: World growth data reveals that from 1960
Q14: For the production function Y = A
Q15: The US and other OECD countries had
Q16: Diminishing marginal product of capital (MPK) means:
A)output
Q18: The marginal product of capital is:
A)
Q19: Among the assumptions made about the production
Q20: The marginal product of capital is how
Q21: Figure 3.1 Q22: Depreciation of the capital stock occurs due
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