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Question: Consider an economy described by the production function: Y = F(KL) = K04196.
a. What is the per-worker production function?
b. Assuming no population growth or techno- logical progress, find the steady-state capital stock per worker, output per worker, and consumption per worker as a function of the g rate and the depreciation rate.
c. Assume that the depreciation rate is 15 per- cent per year. Make a table showing steady- state capital per worker, output per worker, and consumption per worker for saving rates of 0 percent, 10 percent, 20 percent, 30 per- cent, and so on. (You might find it easiest to savin use a computer spreadsheet.) What saving rate maximizes output per worker? What saving rate maximizes consumption per worker?
d. Use information from Chapter 3 to find the marginal product of capital. Add to your table from part (c) the marginal product of capital net of depreciation for each of the saving rates. What does your table show about the relationship between the net marginal prod- uct of capital and steady-state consumption?
Identify one modern technology and think about its development;In what ways has this technology changed the way you live from both a positive and negative.
Consider the following production function f(K, L) = 2K + 3L. Suppose w is the wage paid for each unit of labor, and r is the capital return.
Determine the implications of the trade barriers on your company. Define trade barriers in your specific international market. Consider drawing from multiple sources in your definition.
Write an equation to represent Zoe's net wealth in the state of the world where she does not lose her equipment and she has purchased K dollars of coverage. Call this w1.
A large automobile manufacturing company is considering the installation of a high-tech handling system. The initial cost of the system is $3,000,000 and it is estimated it will save $750,000 per year in manual labor, and will incur $27,500 in operat..
Find print ads that appear to be in the pioneering stage, competitive stage, and retentive stages. Explain why you think the product is in the specific stage.
Using only.gov Websites report the current GDP, the current Federal deficit and the current Federal debt. What inference can you draw from the numbers collected?
Evaluate leading international relations theories and assess their utility in explaining significant international political processes or events.
Industry studies often suggest that firms may have long-run average cost curves that show some output range over which there are economies of scale and a wide range of output over which long-run average cost is constant; finally, at very high out..
To reduce her personal carbon footprint, Zooey is buying a new Ford Escape hybrid. She has negotiated a price of $21,900 and will trade in her old Ford Contour.
Greetings Corporation stores, as well as the Wall Décor division, have enjoyed healthy profitability during the past 2-years. Although profit margin on prints is often thin, volume of print sales has been substantial enough to generate 15 percent of ..
The table below presents the market supply schedule for laptop computers in the "Initial Market Quantity of Computers Supplied" column
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