Multiple Choice
In a production function where capital (K) is raised to the power 0.3 and labour (N) is raised to the power 0.7
A) the production function relating output and labour is not as sharply bowed as the production function relating output and capital.
B) the production function relating output and labour is as sharply bowed as the production function relating output and capital.
C) the production function relating output and capital is not as sharply bowed as the production function relating output and labour.
D) the production function relating output and capital is bowed,but the production function relating output and labour is not bowed.
Correct Answer:
Verified
Correct Answer:
Verified
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