Suppose the production function for a certain device is q = L + K. If
Suppose the production function for a certain device is q = L + K. If neutral technical change has occurred, which of the following could be the new production function?
A) q = L + 5K
B) q = 5 (L + K)
C) q = 5L + K
D) All of the above are possible.
ANSWER
B
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.