Exhibit: Factors of Production Data Period Y K 1 1 3 4 5 O 1.0293 O 1.0375 O 1.0636 100 O 1.046 106 111 110.5 110 200 205 210 215 220 L 100 102 104 104 104 Share of Labor in Output 0.5 0.5 0.5 0.5 Assuming A = 1 in the first period, the value of A in period 2 is: 0.5

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section21.5: Production And Costs In The Long Run
Problem 1ST
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Exhibit: Factors of Production Data
Period
Y
K
1
1
3
4
5
O 1.0293
O 1.0375
O 1.0636
100
O 1.046
106
111
110.5
110
200
205
210
215
220
L
100
102
104
104
104
Share of Labor in Output
0.5
0.5
0.5
Assuming A = 1 in the first period, the value of A in period 2 is:
0.5
0.5
Transcribed Image Text:Exhibit: Factors of Production Data Period Y K 1 1 3 4 5 O 1.0293 O 1.0375 O 1.0636 100 O 1.046 106 111 110.5 110 200 205 210 215 220 L 100 102 104 104 104 Share of Labor in Output 0.5 0.5 0.5 Assuming A = 1 in the first period, the value of A in period 2 is: 0.5 0.5
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