Asked by Noelle Leipold on May 08, 2024
Verified
An improvement in the quality of capital would:
A) rotate the per-worker production function upward.
B) make the per-worker production function flatter.
C) shift the per-worker production function downward.
D) rotate the per-worker production function downward.
E) have no effect on the per-worker production function.
Capital Quality
The effectiveness or productivity of capital goods, which can be improved through technological advancements or better skills training.
Per-worker Production Function
A mathematical representation of the output produced by the average worker, evaluating the relationship between labor input and production.
Production Function
A mathematical equation that describes the relationship between inputs used in production and the output generated from those inputs.
- Understand the concept and implications of the per-worker production function.
- Analyze the effects of capital quality and quantity on productivity.
Verified Answer
Learning Objectives
- Understand the concept and implications of the per-worker production function.
- Analyze the effects of capital quality and quantity on productivity.
Related questions
If Q Is Total Real Output,K Is Capital in Use,L ...
Increases in Both Human Capital Per Worker and Physical Capital ...
One Reason That Governments May Find It Useful to Sponsor ...
Sarah's Pretzel Plant Produces Pretzels According to the Function ...
Trisha's Fashion Boutique Production Function for Dresses Is Y(K, L) ...