Multiple Choice
Suppose the current level of output is 5000.If the elasticities of output with respect to capital and labour are 0.3 and 0.7 respectively,a 10% increase in capital combined with a 5% increase in labour would increase the current level of output to
A) 5015.
B) 5325.
C) 5600.
D) 5650.
Correct Answer:
Verified
Correct Answer:
Verified
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