37. Which of the following is the interpretation of production function Y = F (K, L)? a. Output depend on K and L b. If K Increases, L also needs to increase c. If K increases, L needs to decrease d. If K and L Increases Y increases as well

37. Which of the following is the interpretation of production function Y = F (K, L)? a. Output depend on K and L b. If K Increases, L also needs to increase c. If K increases, L needs to decrease d. If K and L Increases Y increases as well

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.9P

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Question

37.

Which of the following is the interpretation of production function Y = F (K, L)?

a.
Output depend on K and L

b.
If K Increases, L also needs to increase

c.
If K increases, L needs to decrease

d.
If K and L Increases Y increases as well

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