Asked by
Samiksha Ambawat
on Nov 11, 2024Verified
The per-worker production function illustrates the fact that as the amount of capital per worker increases,output per worker:
A) increases at an increasing rate.
B) increases then decreases.
C) decreases but at an increasing rate.
D) decreases.
E) increases but at a decreasing rate.
Per-worker Production Function
A mathematical representation that shows how the amount of output per worker in an economy is affected by the level of capital per worker.
Capital Per Worker
Capital per worker is a ratio that measures the amount of capital assets (such as equipment and machinery) available for each worker, often used as an indicator of labor productivity.
Output Per Worker
The average quantity of goods and services produced per employee in a given time period.
- Describe the principle of diminishing marginal returns.
Verified Answer
KC
Learning Objectives
- Describe the principle of diminishing marginal returns.