If the consumption function is given by the equation C = 500 + 0.5Y, the production function is Y = 50K0.5L0.5, where K = 100 and L = 100, then C%3DequalstoSelect one:a. 1,000cross outb. 2,500cross outс. 3,000cross outd. 5,000cross oute. 6,000cross out

Given Inforamtion Consumption Funcation C = 500 + 0.5Y Producation Function Y = 50K0.5 L0.5 K = 100,…

If the consumption function is given by the equation C = 500 + 0.5Y, the production function is Y = 50KO.5L0.5 where K = 100 and L = 100, then C equals Select one: a. 1,000 cross out b. 2,500 cross out c. 3,000 cross out d. 5,000 cross out e. 6,000 cross out

If the consumption function is given by the equation C = 500 + 0.5Y, the production function is Y = 50KO.5L0.5 where K = 100 and L = 100, then C equals Select one: a. 1,000 cross out b. 2,500 cross out c. 3,000 cross out d. 5,000 cross out e. 6,000 cross out

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If the consumption function is given by the equation C = 500 + 0.5Y, the production function is Y = 50K0.5L0.5, where K = 100 and L = 100, then C
%3D
equals
to
Select one:
a. 1,000
cross out
b. 2,500
cross out
с. 3,000
cross out
d. 5,000
cross out
e. 6,000
cross out

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