Multiple Choice
Under certain circumstances,the production function Y = AF(K,N) can be rewritten as Y = ANF(K,N) .In this case,suppose that both K and N double.What happens to output?
A) It remains unchanged.
B) It is reduced by one half.
C) It is increased by a factor of 4.
D) It doubles.
Correct Answer:
Verified
Correct Answer:
Verified
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