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Let the production function be Y = KL1- and 6 = 0.25. Then the ratio MPL APL (Recall, MPL = ar and APL = .)Using
Let the production function be Y = KL1- and 6 = 0.25. Then the ratio MPL APL (Recall, MPL = ar and APL = .)Using the same production function as in the previous question, you know that if K and L are both multiplied by the same scalar A, then y = (output per person) will O change by the same factor _. O change by factor . O remain constant. O will change, but it's impossible to tell by how much
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