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in solow-swan
doesTFP (totalfactproductivity) grow at the same rate as capital/output ratio
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- Confirm that the Cobb-Douglas production function satisfies all the three properties: more is better, concavity, and CRS.The aggregate production function is Y = 5KL. If there are 18 units of capital and 50 units of labor, the capital productivity is ___________.The following are examples of innovation except one. Smartphones LED Lights Automobiles Solid State Drives (SSD)
- Given the input coefficient matrix for a hypothetical economy made up of only two industries as A [0.1 0.5] [0.3 0.2] provide an economic interpretation for each of the elements in matrix AIn the economic sense, capital does not include:Response option group a) Buildings. b) Machines. c) Money. d) All of the above.Use the firm's long-run cost-minimizing decision rule to explain the differences in the relative use of capital and labor in agriculture in the United States and the Peoples Republic of China
- question 2 Student tuition at Boehring University is $160 per semester credit hour. The state supplements school revenue by $90 per semester credit hour. Average class size for a typical 3-credit course is 60 students. Labor costs are $4,500 per class, materials costs are $22 per student per class, and overhead costs are $28,000 per class. The multifactor productivity ratio currently is 1.33 and the labor productivity ratio is $200.89 per hour if the instructors work on an average of 14 hours per week for 16weeks for each 3-credit class of 60 students. Coach Bjourn Toulouse led the Big Red Herrings to several disappointing football seasons. Only better recruiting will return the Big Red Herrings to winning form. Because of the current state of the program, Boehring University fans are unlikely to support increases in the $192 season ticket price. Improved recruitment will increase overhead costs to $33,000 per class section from the current $28,000 per class section. The…The change in the optimal capital-labor ration if both inputs are perfect complements inproduction and both their prices increase by an identical percentage. Assume the totalcost before and after the change in input prices remains the same.A19 Subject - economics Consider a constant returns-to-scale production function f(k, l). Show that f(k, l) = k ∂f/ ∂k + l ∂f /∂l
- Output Y is produced according to Y = F(K, L), where K is the capital stock and Lis the number of workers. The production function F(K, L) has constant returns toscale and diminishing marginal returns to capital and labour individually. The levelof technology is assumed to be constant over time. Capital per worker is denotedby k = K/L and output per worker by y = Y/L, and the two are related according toy = f(k), where f(k) = F(k, 1) is the per-worker production function. Investment is equal to saving, which is a constant fraction s of income Y. Capitaldepreciates at rate δ and the number of workers grows at rate n. The change incapital per worker over time is ∆k = sf(k) − (δ + n)k. Consider a country that has reached its steady-state capital per worker. Then, inone year, the country suffers severe flooding that destroys part of its capital stock.Assume this is treated as a one-off event that is not expected to reoccur. explain what happens to incomeper worker in the short run and the…Derive the per-worker production function for this economy if Y=zK2/3N1/3.Suppose the US total output is represented by the standard Cobb-Douglas production function with capital and labor inputs. If all inputs are tripled (and TFP is unchanged), then output per worker Exactly triples B. Increases but not exactly triples C. Is unchanged D. Decreases E. None of the other options