What happens to the real wage

Assignment Help Business Economics

Reference no: EM13149603

Using calculus, demonstrate how the percentage of total income attributable to labor is equal to the exponent of labor in the Cobb-Douglas production function. As you work through the proof, explain what each variable represents as if you were explaining this to a fellow student for the first time. b.Using the following production function: Y=10K1/3 *L2/3 , suppose that immigration increases labor (L) by 20%. How much will total output increase in terms of percent? What happens to the rental price of capital? What happens to the real wage?

Reference no: EM13149603

Questions Cloud

Method of revenue recognition : How should earned but unbilled revenues at the balance sheet date on a long-term construction contract be disclosed if the percentage-of-completion (POC) method of revenue recognition is used?

How many moles of hydrogen were collected : When aluminum reacts with concentrated hydrochloric acid, hydrogen gas evolves. The hydrogen is collected by displacement of water at 22ºC at a total pressure of 750 torr.

Performing an extraction with ethyl acetate : In the following procedure, we are performing an extraction with ethyl acetate. What compounds are we separating from our product? Procedure

Equity method for the investment problem : During 2009, Jackson reported net income of $96,000 while paying dividends of $12,000. During 2010, Jackson reported net income of $132,000 while paying dividends of $36,000.

What happens to the real wage : How much will total output increase in terms of percent? What happens to the rental price of capital? What happens to the real wage?

Calculate the mass, in grams, of ag2cro4 : Calculate the mass, in grams, of Ag2CrO4 that will precipitate when 50ml of 0.20M AgNO3 solution is mixed with 40ml of 0.10M K2CrO4 solution. Assume that Ag2CrO4 is completely insoluble (its Ksp is ~ 0).

How would you conclusion change for the winter months : How would you conclusion change for the winter months, if bad weather makes it likely for traffic jams on the highway to increase to 6 days per month?

If we add more water to the vessel the pressure remains : If we add more water to the vessel the pressure (remains the same, decreases, or increases)? Fully explain answer for credit

What are your monthly payments during years : What are your monthly payments during years 5, 6, and 7? b. How much interest is in the sixtieth month's payment? How much principal?

User Account

All Pages