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Exhibit 17-1 Production Function

Question 71

Multiple Choice

Exhibit 17-1
Production Function
Real GDP = T (L, K) , such that Real GDP = T(L + K)
Assume that the technology coefficient is equal to 0.50.
-Refer to Exhibit 17-1. If there are 4 units of capital and 6 units of labor,________ units of output (Real GDP) will be produced.


A) 10
B) 5
C) 10.5
D) 20

Correct Answer:

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