question archive Suppose the current level of output is 6000 and the elasticity of output with respect to capital is 0
Subject:EconomicsPrice:2.88 Bought3
Suppose the current level of output is 6000 and the elasticity of output with respect to capital is 0.4.
A 10% increase in capital would increase the current level of output to?
The value of increase in the level of output on account of 10% increase in capital is 240 units.
The percentage increase in the current level of output is given by:
The magnitude of increase in the current level of output is given by: