The graph below shows three production functions. Fo shows the current production function for the economy, and capital per worker is currently (K/L)o; thus ouput per worker is Y/L)o. Suppose that there is a decrease in capital per worker. Which of the points on the graph could show the new capital per worker and output per worker? OA. 3 C. 1 OB. 2 O D. 4

The graph below shows three production functions. Fo shows the current production function for the economy, and capital per worker is currently (K/L)o; thus ouput per worker is Y/L)o. Suppose that there is a decrease in capital per worker. Which of the points on the graph could show the new capital per worker and output per worker? OA. 3 C. 1 OB. 2 O D. 4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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