Suppose that the production function takes on the following form:Q = E3KIf Capital is equal to 64, the price of output is p, r is the priceof capital, and w is the wage rate, then determine the short run demandfunction for labor.How does Autor (2015) characterize the types of jobs that are mostvulnerable to being made obsolete by automation?In the Autor (2015) article, what are the three main factors thataugments or mitigates the effects of technological change.

Given information Production function Q=E1/3K1/3 E is labor K is capital Capital is given = 64…

Suppose that the production function takes on the following form: Q = E$K} || If Capital is equal to 64, the price of output is p, r is the price of capital, and w is the wage rate, then determine the short run demand function for labor.

Suppose that the production function takes on the following form: Q = E$K} || If Capital is equal to 64, the price of output is p, r is the price of capital, and w is the wage rate, then determine the short run demand function for labor.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter10: Cost Functions

Section: Chapter Questions

Problem 10.10P

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Question

Suppose that the production function takes on the following form:
Q = E3K
If Capital is equal to 64, the price of output is p, r is the price
of capital, and w is the wage rate, then determine the short run demand
function for labor.
How does Autor (2015) characterize the types of jobs that are most
vulnerable to being made obsolete by automation?
In the Autor (2015) article, what are the three main factors that
augments or mitigates the effects of technological change.

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