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Lesechka [4]
3 years ago
9

If a production function is graphed with Real GDP on the vertical axis and labor on the horizontal axis, and the technology coef

ficient rises from 0.40 to 0.50, it would cause resources:
Business
1 answer:
Vitek1552 [10]3 years ago
8 0

Answer:

Production function would shift downward to a lower level of real GDP.

Explanation:

given data

technology coefficient rises = 0.40 to 0.50

solution

as here technological coefficient is the amount of input required for 1 unit of  output

so that when it increase from 0.4 to 0.5

so that it implies that amount of input required for 1 unit of output has increase by 0.1

so here more labor is required for producing same level of real GDP

so that production function would shift downward to a lower level of real GDP.

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