The per-worker production function y has diminishing returns to capital per worker k. Group of answer choices True False

Q: Output Y is produced according to Y = F(K, L), where K is the capital stock and L is the number of…

A: Solow Growth Model  Introduction-:…

Q: Consider the following equation: Y = F (K, AN) Based on this equation, explain the concepts of…

A: Given,  Y=F(K, AN)where, Y is output K is Capital and AN is Effective Labor.Here, Y is a function of…

Q: Suppose the production function is given by Q = 5K - 2L What is the marginal product of the 6th…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: f(k) (п + d) s'y sy k" Capital per head

A: Steady state is the situation where growth of population , Growth of income and growth of capital…

Q: In the economic sense, capital does not include: Response option group a) Buildings. b) Machines. c)…

A: Goods that are used in the production of final goods, goods which stimulate production of final…

Q: • A firm's production function is initially Q = VKL || • Over time, the production function changes…

A: a) The change takes place in the economy in the production function of the firm. The initial…

Q: Given the production function Q=20L+8K and cost budget = 1000JD; w (Price per unit of labor)=8;…

A: Production function exhibits the relationship between the input and the output. The production…

Q: Suppose that output q is a function of a single input, labour (L). Describe the returns to scale…

A: amazon work space client google  download and install zoom meeting install   okta in phone The…

Q: The production function feature called "increasing returns to scale" means that if we increase…

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: For the production function Q = 0.7L + K, returns to scale: a. Can be increasing, decreasing, or…

A: A production function q=f(L,K) is in constant return to scale if q'=f(λL,λK)=λf(L,K)=λq

Q: The assumption of constant returns to scale suggests that if Nand Kboth decrease by 3%: Select one:…

A: The returns to scale explains the percentage change in output due to the percentage change in…

Q: In any Econory the production function is y = K L Derive ss level of output per wyorker and capital…

A: The maximum set of output(s) that can be created with a given set of inputs is called the production…

Q: The term human capital refers to (A) The machinery used per worker (B) The effective amount of labor…

A: here we answer the given as follow;

Q: onsider the following production function: Q = 2K + 6L where K represents Capital, L represents…

A: Production function shows the different combinations of inputs that a firm uses in order to produce…

Q: Q3) Production Functions Show that the Cobb-Douglas Production Function Yt = K" ( A: Nt )'1-a…

A: Given Cobb-Douglas production function Y=Kα(AN)1-α

Q: The change in the optimal capital-labor ration if both inputs are perfect complements in production…

A: Perfect complements are those products, items, or inputs that are always used together and also are…

Q: a) Distinguish between Cobb Douglas production function and Classical production function

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: Answer the attached question

A: Given, Q =KL and overtime it is changed to Q = K2L2 We can write this as Q = (KL)2 Or Q = Q2 ( as…

Q: Question 1: Consider the long-run production function for the country ABC y = 2k ^ 0.67, y is the…

A: Total Factor Productivity (TFP) or productivity is a key notion in the context of a country's…

Q: Which of the following equations does not represent a plausible production function?  a. F(K,L) =…

A: Production function, in the study of economics, helps in establishing a relation between maximum…

Q: Let in the long run production function is TP LK. If Price of labor (wage per hour) is 20 birr and…

A: The output maximization would result in the fact when the marginal rate of substitution of of…

Q: Assume a production function with constant returns to scale. Labour's share of income is 4/5 and…

A: Capital = α = 1/5 Labor = (1- α )= 4/5 Y= A*Kα*Lα      (Cobb Douglas)Y= A*K1/5L4/5     which is a…

Q: The graph below represents per-worker production functions for the same country. Answer the…

A: a) Law of marginal diminishing: .The flatter slope of the production function movement from B to C…

Q: b. What is the per-worker production function, y = S(k)? y =

A: b.

Q: In a Heckscher-Ohlin model, if capital-owners are relatively better off, then it is consistent with…

A: According to H-O(Heckscher-Ohlin) model, the country should export those commodities which require…

Q: Use the firm's long-run cost-minimizing decision rule to explain the differences in the relative use…

A: The long-run cost-minimizing decision rule guides a firm in selecting the optimum mix of factor…

Q: Contrast the concepts diminishing marginal productivity and decreasing returns to scale with…

A: Diminishing Marginal Productivity means with every additional input employed in the production…

Q: What is meant by diminishing returns to capital? Use a hypothetical example to support your answer

A: Answer to the question is as follows :

Q: If the production function describing an economy is Y= 20 KL2, then the share of income going to…

A: The given production function (Y) depicts the value of the output (q) yielded with capital (K) and…

Q: Suppose the per-worker production function is given as follow. y- 6kh2/a, where k- (physical)…

A: Marginal product of capital refers to the increase in output produced when the amount of capital…

Q: Given the production function Q=100 L.K and cost budget=1000JD ; w (price per unit of labor)=8;r…

A: The optimal production is the point where marginal rate of technical substitution is equal to price…

Q: The production function for soy beans is q = K 0.25 L 0.45. Dose this production function have…

A: Given  Production function.  q = (K)^0.25 × (L)^0.45

Q: Find the marginal product of capital for the following production function and show if it has…

A: Returns to scale explain how production evolves over time in response to an increase in all inputs.…

Q: Q2. Determine the returns to scale of the following production function: Y = 5K0.5 +3L0.5 (a)…

A: Returns to scale refers to how production of a good changes when units of both inputs change.

Q: Real GDP per hour worked, YIL $40 ic 8 60 Production function, Production function, Production…

A: Production function denotes the relationship between the real output and the quantity of resources…

Q: The production function q = 9K0.8L0.1 exhibits: a. increasing retruns to scale  b. constant…

A: The relationship between ou>tput and proportional increase in all the inputs is referred to as…

Q: Based on the table below answer the following questions ( a) are diminishing marginal returns of…

A: Marginal Returns is the additional returns in output due to an additional unit increase in input.…

Q: Consider the following production functions and match them to the word that describes their returns…

A: When considering the production function and test their returns to scale. We multiply the production…

Q: Given the following Cobb-Douglas production function, how much more output is produced by adding one…

A: We have given production function and level of inputs L =25 and K=100.

Q: Suppose the production function is given by Q= 5K - 2L. What is the marginal product of the 6th…

A: Marginal product is the change in output level due to the increment of one additional unit of input.

Q: The Cobb-Douglas production function is given by Y - AK" La, Here a is a given parameter that…

A: (1-a) Y/K; increasing marginal decreasing returns to scale capital per worker.

Q: if the capital flow is restricted for a small scale industry how will the production function of the…

A: Production function: Y = F(K,L)  that means the production of output (Y) depends on two factors of…