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Consider an economy described by the production function: Y=f(K,L)=K^(.3)L^(.7) a. What is the per-worker production function?b. Assuming no population growth or technological progress, find the steady-state capital stock per worker, output per worker, and consumption per worker as a function of the saving rate and the depreciation rate.c. Assume that the depreciation rate is 10 percent 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 percent and 40 percent. Whatsaving rate maximizes output per worker?
The Rapid Engine Corporation is a multinational producer os small gasoline and Diesel motors. Rapid hs estimated the given cost experience for a new 3.5hp engine over a sample of 122 observations.
An ice cream vendor sells three flavors: chocolate, strawberry, and vanilla. 45% of the sales are chocolate, while 30% are strawberry, with the rest vanilla flavored.
Suppose the income of buyers (Y) increases by 10 percent (calculated as change in Y/average Y) and, as a result, the quantity demanded of the good increases by 2 percent (calculated as change in Qd/average Qd). Check the correct statement(s): A. T..
the Marginal product of labor (measured in units of output) for a firm is:MPN = A(100 - N) Where A measures productivity and N is the number of labor hours used in production. The price of output is $2.00 per unit. if A = 1, what will demand for labo..
A labor economist estimates a regression of log earnings on schooling, experience, ability, as measured through, and interactions in schooling and experience,
Let a firm's long-run production function be Q= 1/10LK +3L^2K-1/10L^3K Assume that in the short-run the firm's labour input is fixed at 10 units. a) What is the firm's short-run production function? b) What are the short-run average and marginal prod..
what is the probability that it will be green?I did take one marble out of the bag; it was red. I set it aside. Now I am going to choose another marble at random. What is the probability that it will be green?
Find the present worth (present cost) of a simple maufracturing project where the initial investment is $413,000 and the cost of operation is $32,300 per year, inceasing by $4,000 per year (arithmetic gradient) beginning at the end of the third ye..
Huang Industries is planning a proposed project whose estimated NPV is twelve million dollar. This estimate suppose that economic situations will be average.
An individual is considering two investment projects. Project A will return a zero profit if conditions are poor, a profit of $4 if conditions are good, and a profit of $8 if conditions are excellent. Project B will return a profit of $2 if condi..
Suppose that an oligopolistic ally competitive restaurant is currently serving 230 meals per day (the output where MR = MC). At that output level, ATC per meal is $10 and consumers are willing to pay $12 per meal. What is the size of this firm's p..
Suppose the dollar interest rate and the pound sterling interest rate are the same, 5 percent per year. What is the relation between the current equilibrium $/£ exchange rate and its expected future level? Suppose the expected future $/£ exchange ..
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