Multiple Choice
Suppose that the production function for the economy is: Y = AK¹/⁴ᴸ³/⁴.Assume that A = 1000,the capital stock is $32 000 billion,and the labour force is 120 million (or 0.120 billion) workers.The value of the marginal product of capital is
A) $0.0147.
B) $0.0213.
C) $0.0597.
D) $0.25.
Correct Answer:
Verified
Correct Answer:
Verified
Q27: Suppose that the production function for the
Q28: In the Cobb-Douglas production function,the index of
Q29: Along the per worker production function,as the
Q30: If the nominal rental price of capital
Q31: Suppose that the production function for the
Q33: All else equal,in an economy with an
Q34: The marginal product of labour is always
Q35: The Chinese economic reforms of 1978 opened
Q36: Suppose that the production function for the
Q37: The supply curves for labour and capital