Consider the per-worker production function graph. If there is an increase in capital per hour worked, holding technology constant, then OA. there is a movement from A to B. O B. there is a movement from A to C. OC. there is a movement from B to D. OD. there is a movement from D to C. If there is an increase in technology, holding constant the quantity of capital per hour worked, then O A. there is a movement from C to D. OB. there is a movement from A to B. OC. there is a movement from D to B. O D. there is a movement from A to C. Real GDP per hour worked (Y/L) 10- 0 Y/L₂ Y/L₁ Per-Worker Production Function 2 C A B Per+ Worker Production Function 1 K/L₁ K/L₂ Capital per hour worked (K/L) 10

Consider the per-worker production function graph. If there is an increase in capital per hour worked, holding technology constant, then OA. there is a movement from A to B. O B. there is a movement from A to C. OC. there is a movement from B to D. OD. there is a movement from D to C. If there is an increase in technology, holding constant the quantity of capital per hour worked, then O A. there is a movement from C to D. OB. there is a movement from A to B. OC. there is a movement from D to B. O D. there is a movement from A to C. Real GDP per hour worked (Y/L) 10- 0 Y/L₂ Y/L₁ Per-Worker Production Function 2 C A B Per+ Worker Production Function 1 K/L₁ K/L₂ Capital per hour worked (K/L) 10

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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