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Let a Firm's Production Function Be the Production Function

Question 8

Multiple Choice

Let a firm's production function be Let a firm's production function be The production function then becomes Which of the following statements is true? A) Neutral technological progress has occurred. B) Labor-saving technological progress has occurred C) Capital-saving technological progress has occurred. D) Economies of scale have increased. The production function then becomes Let a firm's production function be The production function then becomes Which of the following statements is true? A) Neutral technological progress has occurred. B) Labor-saving technological progress has occurred C) Capital-saving technological progress has occurred. D) Economies of scale have increased. Which of the following statements is true?


A) Neutral technological progress has occurred.
B) Labor-saving technological progress has occurred
C) Capital-saving technological progress has occurred.
D) Economies of scale have increased.

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