The aggregate production function is Y = 3KL. If there are 30 units of capital and 40 units of labor, aggregate output is
A) 3,600 units.
B) 2,500 units.
C) 2,100 units.
D) 400 units.

Name: The aggregate production function is Y = 3KL. If there are 30 units of capital and 40 units of labor, aggregate output is A) 3,600 units. B) 2,500 units. C) 2,100 units. D) 400 units.
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Quizplus · Accepted Answer

The aggregate production function is Y = 3KL. Substituting K = 30 and L = 40, we get Y = 3 * 30 * 40 = 3,600 units.

The Aggregate Production Function Is Y = 3KL