In the Cobb-Douglas production function Y = AK3/4L1/4,
A) capital is a more expensive input than labor.
B) capital is more plentiful than labor.
C) diminishing returns to capital are three times greater than are diminishing returns to labor.
D) capital has a larger share in national income than does labor.
D
Economics
You might also like to view...
According to Milton Friedman, how will your consumption be affected by a $2,00 . fine for littering and a $50 cut in your weekly salary that your boss told you to get used to it because it's here to stay? Explain
Economics
The difference between what producers receive at the market clearing price and the total amount that they would have been willing to accept for the total quantity produced in a market is called
A. producer surplus. B. market surplus. C. excess demand. D. production excess.
Economics