Consider the production function Y=√K√N, where Y is output, K is capital, and N is the number of workers (labor). Write this production function as a relation between output per worker and capital per worker. Y (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g., a superscript can be created with the ^ character.) If K/N = 4, then Y/N = (Round your response to two decimal places.) N If K/N doubles to 8, then Y/N will The relationship between output per worker and capital per work exhibits A. increasing returns to scale. O B. decreasing returns to scale. constant returns to scale. OC. O D. none of the above.
Consider the production function Y=√K√N, where Y is output, K is capital, and N is the number of workers (labor). Write this production function as a relation between output per worker and capital per worker. Y (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g., a superscript can be created with the ^ character.) If K/N = 4, then Y/N = (Round your response to two decimal places.) N If K/N doubles to 8, then Y/N will The relationship between output per worker and capital per work exhibits A. increasing returns to scale. O B. decreasing returns to scale. constant returns to scale. OC. O D. none of the above.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Consider the production function
Y=√K√N,
where Y is output, K is capital, and N is the number of workers (labor).
Write this production function as a relation between output per worker and capital per worker.
Y
N
(Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g., a
superscript can be created with the character.)
If K/N = 4, then Y/N = (Round your response to two decimal places.)
If K/N doubles to 8, then Y/N will
The relationship between output per worker and capital per work exhibits
A. increasing returns to scale.
O B. decreasing returns to scale.
OC. constant returns to scale.
O D. none of the above.
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