Kilogrammes of grain produced (thousands) 12 After the shift from A to B, labour productivity remains the same. Number of farmers 008 008 0000 009 2400 1200 0- 00. 00 00- 00- 009 00- B. 008 00- The diagram below shows an agricultural production function. i2/attempt.php?attempt3D366292&cmid%=1570973 00 3. 00 Number of farmers 0. 2400 QUESTION 1 After the shift from A to B, labour productivity remains the same. Not yet answered Marked out of 1.00 Select one: P Flag question O True O False QUESTION 2 Not yet answered The function shows diminishing marginal product of labour. Marked out of 1.00 12 ASUS ZenBook inter EXD f6 61 4. 7. 9.

Kilogrammes of grain produced (thousands) 12 After the shift from A to B, labour productivity remains the same. Number of farmers 008 008 0000 009 2400 1200 0- 00. 00 00- 00- 009 00- B. 008 00- The diagram below shows an agricultural production function. i2/attempt.php?attempt3D366292&cmid%=1570973 00 3. 00 Number of farmers 0. 2400 QUESTION 1 After the shift from A to B, labour productivity remains the same. Not yet answered Marked out of 1.00 Select one: P Flag question O True O False QUESTION 2 Not yet answered The function shows diminishing marginal product of labour. Marked out of 1.00 12 ASUS ZenBook inter EXD f6 61 4. 7. 9.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 24RQ: What is a production technology?

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GRAPH SETTINGS Reset Country-X Initial Value ($50 – $10,000) 1,000.00 Value (thousands of dollars) [Country-X = Country-Y] Growth Rate: 3% 10 9 0.1% 10.0% 8 Country-Y 7 Initial Value 6 ($50 – $10,000) 2,000.00 4 Growth Rate: 1% 3 0.1% 10.0% 2 1 35.4 yrs. E CALCULATIONS 5 10 15 20 25 30 35 40 Years Value in Country-X Country-Y 10 years $1,343.92 $2,209.24 20 years $1,806.11 $2,440.38 30 years $2,427.26 $2,695.70 Country-X Country-Y Instructions: Modify values in the SETTINGS window of the interactive tool to answer the questions below. After each question, click the "Reset" button in the upper-right corner. a) Increase the "Initial Value" setting for Country X. Which of the following describes the changes in the graph? OThe vertical intercept of the purple line rises. OThe vertical intercept of the green line rises. OThe green line starts at the same height but rises faster. OThe purple line starts at the same height but rises faster. b) Using the slider, change the "Growth Rate"…
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