Output per worker ($ thousands) 0 0 Capital equipment per worker ($ thousands) Which TWO of the following statements are correct? Select one or more: a. The slope of the function is the marginal product of capital. b. The figure shows that each extra $ of capital per worker raises output per worker by an equal amount. c. The function is "convex" (¿.e. it has a slope which increases as capital per worker rises). Od. The figure shows that higher capital per worker increases output per worker. Production function

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Output per worker ($ thousands)
0
Select one or more:
0
Capital equipment per worker ($ thousands)
Which TWO of the following statements are correct?
O a. The slope of the function is the marginal product of capital.
b.
The figure shows that each extra $ of capital per worker raises output per worker by an equal amount.
✔ C. The function is "convex" (L.e. it has a slope which increases as capital per worker rises).
Od. The figure shows that higher capital per worker increases output per worker.
Production function
Transcribed Image Text:Output per worker ($ thousands) 0 Select one or more: 0 Capital equipment per worker ($ thousands) Which TWO of the following statements are correct? O a. The slope of the function is the marginal product of capital. b. The figure shows that each extra $ of capital per worker raises output per worker by an equal amount. ✔ C. The function is "convex" (L.e. it has a slope which increases as capital per worker rises). Od. The figure shows that higher capital per worker increases output per worker. Production function
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