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johnpaul92 johnpaul92
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8 years ago
Over the past year, productivity grew 1%, capital grew 2%, and labor grew 2%. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, how much did output grow?
A) 1%
B) 2%
C) 3%
D) 4%
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Macroeconomics

Macroeconomics


Edition: 8th
Authors:
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supamansupaman
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8 years ago
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johnpaul92 Author
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#2
8 years ago
Wow, you answered what I thought was impossible to answer, thank you!
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#3
8 years ago
Every little bit helps, right? Glad I solved your question
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