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What form does the per-worker production function typically take in exams?

a) Linear equation
b) Quadratic equation
c) Exponential equation
d) Logarithmic equation

1 Answer

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Final answer:

The per-worker production function is generally represented by an exponential equation in exams, reflecting how labor influences output with other factors held constant.

Step-by-step explanation:

The per-worker production function typically takes an c) exponential equation form in exams. This type of function is used to represent how output varies with different levels of a single input, labor, holding all other inputs constant. In economics, especially when discussing models of economic growth, the exponential nature of the function captures the essence of increasing returns to a factor of production, such as capital or technology, assuming labor is constant or grows at a constant rate.

An aggregate production function, such as the one with GDP per capita as its output, illustrates the overall relationship between inputs used in production and the resulting total economic output. This function simplifies the complexity of the economy by assuming that labor input is already figured into other factors when calculated on a per-person basis.

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