Solved

The Production Function Is Y = 3KL

Question 93

Multiple Choice

The production function is Y = 3KL. If there are 10 units of capital and 50 units of labor, aggregate output is:

A) 500.
B) 35010.
C) 3500.
D) 1500.

Related Questions

Q88: Recall Application 3, "Can Labor Market Policies

Q89: When constructing a production function between labor

Q90: If the supply of labor decreases, which

Q91: When deciding whether to hire another worker,

Q92: If the labor supply curve were vertical,

Q94: Because of diminishing returns, the production function

Q95: Classical economists assumed:<br>A) there is never full

Q96: As the supply of plumbers in the

Q97: Diminishing returns to labor implies that:<br>A) as

Q98: The crowding out effect explains how an