Suppose the production function for the country of Westlandia is Q = K + L, where Q is output, K is capital, and L is labor. Which of the following statements is true about this production function?

Westlandia could achieve economic growth with labor alone.

Labor exhibits diminishing marginal returns.

Capital exhibits diminishing marginal returns

All of the above statements are true.

Question

Chloeroebuck2021idn Chloeroebuck2021idn

06-03-2022
Social Studies

Answered

Discover how IDNLearn.com can help you find the answers you need quickly and easily. Discover trustworthy solutions to your questions quickly and accurately with help from our dedicated community of experts.

Suppose the production function for the country of Westlandia is Q = K + L, where Q is output, K is capital, and L is labor. Which of the following statements is true about this production function?

Westlandia could achieve economic growth with labor alone.

Labor exhibits diminishing marginal returns.

Capital exhibits diminishing marginal returns

All of the above statements are true.

Sagot :

Thank you for using this platform to share and learn. Don't hesitate to keep asking and answering. We value every contribution you make. Thank you for visiting IDNLearn.com. We’re here to provide clear and concise answers, so visit us again soon.

Proof: Given: Isosceles Trapezoid TRAP With TR=PA Prove: Angle RTA = Angle APR

In The Step By Step Simplification Of Expression Below Which Property Is Not Used? 3(1+x)3(x+1)3(x)+3(1)3x +3 A) Associative B) Commutative C) Distributive D)

A Laptop Computer Is Priced At $650. If The Sales Tax Is 5%, Find The Total Cost Of The Computer, Including Sales Tax.

I Need With Math It Say The Ride-it Store Rents Bicycles. The Cost Is $8.50 For 1 Hour, $13.64 For 2 Hours, $18.80 For 3 Hours, And 23.95 For 4 Hours. If The Pa

Proof: Given: Isosceles Trapezoid TRAP With TR=PA Prove: Angle RTA = Angle APR

I Need With Math It Say The Ride-it Store Rents Bicycles. The Cost Is $8.50 For 1 Hour, $13.64 For 2 Hours, $18.80 For 3 Hours, And 23.95 For 4 Hours. If The Pa

Proof: Given: Isosceles Trapezoid TRAP With TR=PA Prove: Angle RTA = Angle APR

A Laptop Computer Is Priced At $650. If The Sales Tax Is 5%, Find The Total Cost Of The Computer, Including Sales Tax.

In The Step By Step Simplification Of Expression Below Which Property Is Not Used? 3(1+x)3(x+1)3(x)+3(1)3x +3 A) Associative B) Commutative C) Distributive D)

Proof: Given: Isosceles Trapezoid TRAP With TR=PA Prove: Angle RTA = Angle APR