Starting at point B in the diagram below,identify which combinations of points illustrate technological change.Give a brief explanation to support your answer. Alt text for Question 46: For question 46,a graph illustrating technological change.
Long description for Question 46: The x-axis is labelled,capital per hour worked,K/L.The y-axis is labelled,real GDP per hour worked,Y/L.3 concave curves originating from 0 at the vertex are shown.5 points,A ($50000,$15000),B ($60000,$16000),C ($70000,$16400),D ($60000,$17000),and E ($60000,$15000)are plotted.The curve labelled Production function 1,passes through point E.The curve labelled Production function 2,passes through points A,B,and C.The curve labeled Production function 3,passes through point D.The 5 points are connected to their respective coordinates on the x and y-axis with dotted lines.

Question

Starting at point B in the diagram below,identify which combinations of points illustrate technological change.Give a brief explanation to support your answer.  Alt text for Question 46: For question 46,a graph illustrating technological change.
Long description for Question 46: The x-axis is labelled,capital per hour worked,K/L.The y-axis is labelled,real GDP per hour worked,Y/L.3 concave curves originating from 0 at the vertex are shown.5 points,A ($50000,$15000),B ($60000,$16000),C ($70000,$16400),D ($60000,$17000),and E ($60000,$15000)are plotted.The curve labelled Production function 1,passes through point E.The curve labelled Production function 2,passes through points A,B,and C.The curve labeled Production function 3,passes through point D.The 5 points are connected to their respective coordinates on the x and y-axis with dotted lines.

Quizplus · Accepted Answer

The Answer of Starting at point B in the diagram below,identify which combinations of points illustrate technological change.Give a brief explanation to support your answer.  Alt text for Question 46: For question 46,a graph illustrating technological change.
Long description for Question 46: The x-axis is labelled,capital per hour worked,K/L.The y-axis is labelled,real GDP per hour worked,Y/L.3 concave curves originating from 0 at the vertex are shown.5 points,A ($50000,$15000),B ($60000,$16000),C ($70000,$16400),D ($60000,$17000),and E ($60000,$15000)are plotted.The curve labelled Production function 1,passes through point E.The curve labelled Production function 2,passes through points A,B,and C.The curve labeled Production function 3,passes through point D.The 5 points are connected to their respective coordinates on the x and y-axis with dotted lines.

Starting at Point B in the Diagram Below,identify Which Combinations