ameter capturing technology
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Consider the production function:
Y = z.f(K,N,L)
where Y is output, z is a parameter capturing technology, K is capital, N is labour and L is the area of
land.
If z increases, then both average and marginal products of all inputs increase.
Select one:
O True
O False
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