what is the mathematical way to solving this, i used the slope formula but i dont know if that is the way to get answer. A small economy increased its capital per hour worked (K/L) from $40,000 to $50,000. As a result,real GDP per worker (Y/L) grew from $20,000 to $25,000. If the economy increases its capital perhour worked by another $10,000O to $60,000, but there is no change in technology, by how muchmore and in what direction will output per worker change?Output per worker will increase by exactly $5,000Output per worker will increase by more than $5,000O Output per worker will increase by less than $5,000O Output per worker will fall by more than $5,000

Real GDP is a economics live of the worth of economic output that has been adjusted for value…

A small economy increased its capital per hour worked (K/L) from $40,000 to $50,000. As a result real GDP per worker (Y/L) grew from $20,000 to $25,000. If the economy increases its capital per hour worked by another $10,000 to $60,000, but there is no change in technology, by how much more and in what direction will output per worker change? Output per worker will increase by exactly $5,000 Output per worker will increase by more than $5,000 Output per worker will increase by less than $5,000 Output per worker will fall by more than $5,000

A small economy increased its capital per hour worked (K/L) from $40,000 to $50,000. As a result real GDP per worker (Y/L) grew from $20,000 to $25,000. If the economy increases its capital per hour worked by another $10,000 to $60,000, but there is no change in technology, by how much more and in what direction will output per worker change? Output per worker will increase by exactly $5,000 Output per worker will increase by more than $5,000 Output per worker will increase by less than $5,000 Output per worker will fall by more than $5,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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