Y=4K 1/3, 2/3, K-27, L=8. If the capital is decreased by 40 %, and the labor, increased by 40%, what will be the percent of increase or decrease in the output? OA 3.4% OR 5.6% OC.3.1% OD.6.3% *

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter9: An Introduction To Basic Macroeconomic Markets
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Question 1
Y=4K1/32/3, K-27, L=8. If the capital is decreased by 40%, and the labor, increased by 40%, what will be the percent of increase or decrease in
the output?
OA.3.4%
OR 5.6 %
OC.3.1%
OD.6.3%
Transcribed Image Text:Question 1 Y=4K1/32/3, K-27, L=8. If the capital is decreased by 40%, and the labor, increased by 40%, what will be the percent of increase or decrease in the output? OA.3.4% OR 5.6 % OC.3.1% OD.6.3%
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