Multiple Choice
Assume the production function is represented by Y = F (K, AN) and the number of workers is constant. Now suppose the state of technology variable, A, increases by 6%. This implies that which of the following variables will also increase by 6%?
A) Effective labour.
B) Capital.
C) Output.
D) All of the above.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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