Multiple Choice
If Y is output, K is capital, u is the fraction of the labor force in universities, L is labor, and E is the stock of knowledge, and the production Y = F(K,(1 - u) EL) exhibits constant returns to scale, then output (Y) will double if:
A) K is doubled.
B) K and u are doubled.
C) K and E are doubled.
D) L is doubled.
Correct Answer:
Verified
Correct Answer:
Verified
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