Illustrate what is this economy capacity to produce.

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Reference no: EM1349445

The production function reveals how much an economy can produce (output, or Y), given its available labor (labor hours, or L). The table below shows the production function for a hypothetical economy with 100 units of capital (K = 100).

Production Function (K= 100)
Labor Hours (L) Output (Y)
0 0
100 300
200 500
300 650
400 750

According to the production function, with 300 labor hours, illustrate what is this economy's capacity to produce?

Reference no: EM1349445

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