Business, 27.07.2021 19:20 leahmitch612
Suppose a small business knows its production function output = A Γ f(L, K, H, N) = A Γ (L + K + H + N). The president of the company is wondering if having a new technology would help increase the total output. Previously, the company had a total output of 120, where L = 20, H = 20, K = 30, and N = 50. After the firm uses the new technology, where A = 2.5, its output rises to 300. Which of these statements is NOT true about this firm's production function?
Answers: 3
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Suppose a small business knows its production function output = A Γ f(L, K, H, N) = A Γ (L + K + H +...
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