Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Given a production function Y = AF(L, K, H, N), where Y is the quantity of output, L is the quantity of labour, H is
Given a production function Y = AF(L, K, H, N), where Y is the quantity of output, L is the quantity of labour, H is the quantity of human capital and N is the quantity of natural resources, what does A represent?
Select one:
a.the level of technology
b.productivity growth
c.the natural resources per worker
d.the physical capital per worker
just need answer pls
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started