Asked by
Jackson Avery
on Nov 11, 2024
Verified
A point on the per-worker production function shows:
A) the total output produced by the labor force of an industry on the vertical axis for each level of capital per worker on the horizontal axis.
B) the marginal output per worker on the vertical axis for each level of worker per unit of capital on the horizontal axis.
C) the marginal output per worker on the vertical axis for each level of capital per worker on the horizontal axis.
D) the level of capital per worker on the vertical axis for respective average output per worker on the horizontal axis.
E) the average output per worker on the vertical axis for each level of capital per worker on the horizontal axis.
Per-Worker Production Function
The relationship between the amount of capital per worker in the economy and average output per worker.
- Understand the effects of changes in capital stock and technology on a per-worker production function.
Verified Answer
SC
Learning Objectives
- Understand the effects of changes in capital stock and technology on a per-worker production function.