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Cobb-Douglas production functionThis exercise discusses properties of the Cobb-Douglas production function and its use in the Solow model.Suppose we have the following aggregateproductionfunctionY= F(K, L)=AKaL1-a,whereListhenumberofworkers,Kisthecapital stock,Aistechnology anda?(0,1)isthecapital shareofincome.
a) Calculate the marginal product of capital and of labor from the aggregateproductionfunction.
b) Show that the share of total income that is paid to workers is equal to 1- a,assuming that markets are competitive.
c) Derive output per workerfrom the aggregate productionfunction.
Who is the current Chairman of the Fed - Should the Fed remain independent from political authority or should the President and Congress have a say in their operations?
Public regulation of a market is utilized when which of the following is present:
Why ethnic communities have more success in achieving greater goals? Discuss why you think such ethnic or religious minorities have been able to develop greater achievements in certain fields than others?
Consider the following simple economy with no government or foreign sector: Consumption: C=200+0.8Y Investment: I=100. What is the equation for aggregate demand (AD) for this economy? What is the equilibrium level of income? What is the value of the ..
describe and crtically comment on the various forms of european union law how such forms of eu law are implemented
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Suppose that Colombia can produce 1,000 pounds of coffee in one day or produce 200 pounds of bananas in one day. In addition, suppose that Ecuador can produce 300 pounds of coffee in one day or produce 100 pounds of bananas in one day.
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The marginal cost curve above the minimum average variable cost
you observe an olympic athlete in the long-jump. suppose the distance of each jump is a random variable that follows a
What would be the eventual equilibrium output for each of two competitors under the Cournot-Stackelberg Reaction Model if the Market demand is Q=20-P? (Assume that MC = 0).
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