chloeroebuck2021
Answered

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Suppose the production function for the country of Westlandia is Q = K + L, where Q is output, K is capital, and L is labor. Which of the following statements is true about this production function?

Westlandia could achieve economic growth with labor alone.

Labor exhibits diminishing marginal returns.

Capital exhibits diminishing marginal returns

All of the above statements are true.

Sagot :

lawrencemma2165
Westlandia could achieve economic growth with labor alone
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