Suppose that the production function is given by Y-AK0.4N0.6. What is the percentage change in output if TFP declines by 43% 7 Write the answer in percent terms with up to two decimals (e.g., 10.22 for 10.22 %, or 2.33 for 2.33%). 1.57
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- Suppose that the production function is given by Y=AK0.4N0.6. What is the percentage change in output if TFP declines by 43%? Write the answer in percent terms with up to two decimals (e.g., 10.22 for 10.22%, or 2.33 for 2.33%).This is Romer-Lucas production function Y = (K^α) (A LY)^1-α. What is the most important investment implication you can learn from this equation?Returns to scale in production: Do the following production functions exhibitincreasing, constant, or decreasing returns to scale in K and L? (Assume Ais some fxed positive number.)(a) Y = K1/2L1/2(b) Y = K2/3L2/3(c) Y = K1/3L1/2(d) Y = K + L(e) Y = K + K1/3L1/3 (f ) Y = K 1/3L2/3 + A (g) Y = K 1/3L2/3 − A
- Please no written by hand and no image Suppose that the production function is given by Y=AK0.4N0.6. What is the percentage change in output if both capital and labor rise by 42%? Write the answer in percent terms with up to two decimals (e.g., 10.22 for 10.22%, or 2.33 for 2.33%).firm decides to invest X units of capital in Project A and Yunits of labour in Project B. iv. The expected return for each unit of investment is $500 in Project A and $1500 in Project B. However in order to meet the expectations of the firm's ethical and environmental policy values of X and Y must satisfy the constraint x+y-5x-6y= 210. How many units of each type should firm buy in other to maximize total volume? What is the implication of a unit change in investment in capital and (or) Labour Economic Analysis?Please only type answer a) Find the break-even income level of a family with a consumption function of C = 13000 + 5/6 Y, where C is the consumption and Y is the family income level. Also find the family saving at an income level of $81,000? b) A dairy cooperative sells its members butter at the constant price of $1.70 per pound. For a typical member, fixed costs are $6000 and production costs are $1.40 per pound (same as variable cost). Find the break-even quantity in pounds for a typical member
- A. What is the net PW of machine B? B. Which of the following statements is CORRECT? C. What is the net PW of machine A?Q: Determine whether the following statemnts are true or false: a) The economic costs of a firm are payments to resource owners, sufficient to divert these resources from alternative consumption possibilities. b) Economic profit is an implicit cost. c) The larger the volume of production in the firm, the lower the total fixed costs.Make your assumptions for a hypothetical project and compute the NPV. Then, show how NPV would change when you change specific inputs (ceteris paribus). Do this analysis for at least 3 inputs using scenario analysis or data tables, assigning different values to each input.
- If C = 20 + 0.90 what will be the autonomous consumptionSuppose that a business incurred implicit costs of $200,000 and explicit cost of$1million in a specific year if the firm sold 4,000 units of the output at $300 per unit , the accounting profits were A)$00,000 and it's economic profits were zero B)$200,000 and it's economic profits were zero C)$100,000 and it's economic profits were$100,000 D)zero and it's economic loss was $200,000Suppose that the production function is given by Y=AK0.4N0.6. What is the percentage change in output if both capital and labor rise by 42%? Write the answer in percent terms with up to two decimals (e.g., 10.22 for 10.22%, or 2.33 for 2.33%).