A production function of the sort that says output per worker equals A * f(L / L,K / L,H / L,N / L)tells us all of the following EXCEPT that ____________ will lead to a better standard of living.

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Quizplus · Accepted Answer

More people (an increase in L) does not necessarily lead to a better standard of living, as it could dilute the amount of capital, human capital, and natural resources available per worker, potentially reducing output per worker.

A Production Function of the Sort That Says Output Per