The following equation is an example of ________: $$Y = F ( K , L ) = \bar { A } K ^ { 1 / 3 } L ^ { 2 / 3 }$$ .
A) a growth model
B) a utility function
C) a consumption function
D) the production possibilities frontier
E) a production function

Question

Quizplus · Accepted Answer

The equation represents a production function, which shows the relationship between inputs (capital K and labor L) and the output Y, with $\bar{A}$ as a technology factor.

The Following Equation Is an Example of ________ Y=F(K,L)=AˉK1/3L2/3Y = F ( K , L ) = \bar { A } K ^ { 1 / 3 } L ^ { 2 / 3 }Y=F(K,L)=AˉK1/3L2/3

The Following Equation Is an Example of ________ $Y = F ( K , L ) = \bar { A } K ^ { 1 / 3 } L ^ { 2 / 3 }$