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Munze Munze
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6 years ago
Constant returns to scale implies that if N and K both increase by 3% that
A) output (Y) will increase by 3%.
B) Y/N will increase by 3%.
C) Y/N will increase by less than 3%.
D) the capital-labor ratio will increase by 3%.
Textbook 
Macroeconomics

Macroeconomics


Edition: 6th
Authors:
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Macroeconomics, 6/E (Blanchard, Johnson)
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vonCOLLINZOvonCOLLINZO
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