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Author Question: Suppose an economy has the following production function: Y = A K1/4 H3/4. Which of the following ... (Read 39 times)

javeds

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on: Jun 30, 2018
Suppose an economy has the following production function: Y = A  K1/4  H3/4. Which of the following is true of this economy?
 
  A) Production in this economy exhibits increasing returns to scale.
  B) Production in this economy exhibits decreasing returns to scale
  C) Production in this economy exhibits constant returns to scale.
  D) Production in this economy decreases when the price level increase.

Question 2

U.S. banks are required by law to keep most of their assets as reserves.
 
  Indicate whether the statement is true or false


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britb2u

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

FALSE


javeds

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

bblaney

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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