Computing growth rates (II): Suppose k, l, and m grow at constant rates givenby g k, gl , and gm. What is the growth rate of y in each of the following cases?(a) y = k 1/3(b) y = k 1/3l 2/3(c) y = mk 1/3l 2/3(d) y = mk 1/4l 3/4(e) y = mk 3/4l 1/4(f ) y = 1klm2 1/2(g) y = 1kl2 1/4 11/m2 3/4

Computing growth rates (II): Suppose k, l, and m grow at constant rates givenby g k, gl , and gm. What is the growth rate of y in each of the following cases?(a) y = k 1/3(b) y = k 1/3l 2/3(c) y = mk 1/3l 2/3(d) y = mk 1/4l 3/4(e) y = mk 3/4l 1/4(f ) y = 1klm2 1/2(g) y = 1kl2 1/4 11/m2 3/4

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1.4CE

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Computing growth rates (II): Suppose k, l, and m grow at constant rates given
by g k, gl , and gm. What is the growth rate of y in each of the following cases?
(a) y = k 1/3
(b) y = k 1/3l 2/3
(c) y = mk 1/3l 2/3
(d) y = mk 1/4l 3/4
(e) y = mk 3/4l 1/4
(f ) y = 1klm2 1/2
(g) y = 1kl2 1/4 11/m2 3/4

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