Multiple Choice
The following figure shows two aggregate production functions.
-Refer to the figure above.Which of the following statements hold true regarding aggregate production function 2?
A) Up to point A, the law of diminishing marginal product holds for human capital.
B) Up to point A, the law of diminishing marginal product holds for the physical capital stock.
C) Up to point A, increases in the physical capital stock lead to decreased output.
D) Up to point A, increases in human capital lead to constant aggregate output.
Correct Answer:
Verified
Correct Answer:
Verified
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