tabcaps lockshift tEescK→1Given the production function Y = AK 0.3 0.7, if an economy's capital per worker k is $27 thousand, and its total factor productivity A is 0.5, then output per worker is (approximately)O $13,500O $5,000O $3,000O $40,500$1,500A Moving to another question will save this response.Type here to search?Q00AZ#2WS3XaltE$D104C#3R%LL5f6TV6Ghp&YB7aHU8NJ???f10► 113M<<< Question 2 of 25 >>>59°F ClearKLPCa 41:16 AM9/23/2022insprt scCtrl

Given information: Y = A K0.3L0.7 ----------> Production function Where Y is output, A is total…

Answered: Given the production function Y-AK0.3…

Given the production function Y-AK0.3 0.7, if an economy's capital per worker k is $27 thousand, and its total factor productivity A is 0.5, then o O $13,500 O $5,000 O $3,000 $40,500 O $1,500

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter17: Economic Growth: Resources, Technology, Ideas And Institutions

Section17.2: A Production Function And Economic Growth

Problem 4ST

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Given the production function Y = AK 0.3 0.7, if an economy's capital per worker k is $27 thousand, and its total factor productivity A is 0.5, then output per worker is (approximately)
O $13,500
O $5,000
O $3,000
O $40,500
$1,500
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