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johnpaul92 johnpaul92
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8 years ago
Suppose the current level of output is 5000. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, a 10% increase in capital combined with a 5% increase in labor and a 5% increase in productivity would increase the current level of output to
A) 5575.
B) 5325.
C) 6000.
D) 5015.
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Macroeconomics

Macroeconomics


Edition: 8th
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supamansupaman
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johnpaul92 Author
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#2
8 years ago
This answers my question, thank you so much
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#3
8 years ago
Every little bit helps, right? Glad I solved your question
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