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cheezymac cheezymac
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A year ago
The following figure shows two aggregate production functions.




Refer to the figure above. Which of the following statements hold TRUE regarding aggregate production function 2?

▸ Up to point A, increases in human capital lead to constant aggregate output.

▸ Up to point A, the law of diminishing marginal product holds for the physical capital stock.

▸ Up to point A, increases in the physical capital stock lead to decreased output.

▸ Up to point A, the law of diminishing marginal product holds for human capital.
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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wonton1wonton1
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A year ago
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