Multiple Choice
Suppose the economy's production function is Y = AK0.3N0.7.When K = 1000,N = 50,and A = 15,what is Y?
A) 1842
B) 6106
C) 750,000
D) 123
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q24: What two factors should you equate in
Q25: The marginal product of labor<br>A)is measured by
Q26: Suppose a firm's hourly marginal product of
Q27: The fact that the production function relating
Q28: A decrease in the real wage would
Q30: A technological breakthrough in using photons for
Q31: Suppose the marginal product of labor in
Q32: The city of Hope has a labor
Q33: How would each of the following events
Q34: The city of Hope has a labor