In the production function Y=AF(L,K,H,N), Y represents the quantity of output; L represents the quantity of labor, K represents the quantity of physical capital; and N represents the quantity of natural resources. What does H represent?

In the production function Y=AF(L,K,H,N), Y represents the quantity of output; L represents the quantity of labor, K represents the quantity of physical capital; and N represents the quantity of natural resources. What does H represent?

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.2P

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In the production function Y=AF(L,K,H.N), Y represents the quantity of output; L represents the
quantity of labor; K represents the quantity of physical capital; and N represents the quantity of
natural resources. What does H represent?

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