Multiple Choice
If the consumption function is given by the equation C = 500 + 0.5Y, the production function is Y =
50K0.5L0.5, where K = 100 and L = 100, then C equals:
A) 1,000.
B) 2,500.
C) 3,000.
D) 5,000.
Correct Answer:
Verified
Correct Answer:
Verified
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