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Kss612 Kss612
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A year ago
Scenario: Two economies, A and B, have identical aggregate production functions with diminishing returns. In both economies, capital and labor are equally important for production. Economy A has twice as many efficiency units of labor as economy B. Economy B has twice as much physical capital stock as economy A.


Refer to the scenario above. From the description, it could possibly be inferred that ________.

▸ economy B employs more sophisticated technology in production

▸ economy B has more valuable natural resources

▸ economy A better educates its citizens

▸ both statements B and C are true
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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LaceyCGibsonLaceyCGibson
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A year ago
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Kss612 Author
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A year ago
This calls for a celebration Person Raising Both Hands in Celebration
smi3
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You make an excellent tutor!
kobbhy
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2 hours ago
Good timing, thanks!
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