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Scale effects
a. Why does the varieties model of technological change from section 6.1 exhibit a scale effect in the sense that the growth rate rises with the aggregate quantity of labor, L? Is it reasonable to identify L empirically with a country's population?
b. What happens in this model if population, L, grows at a constant positive rate?
c. What types of modifications to the model would eliminate the scale effects?
A firm is considering moving its manufacturing plant from Chicago to a new location. The industrial engineering department was asked to identify the various alternatives together with the costs to relocate the plant, and the benefits.
If the local government can enforce a rent control law that sets the maximum monthly rent at $1500, will there be a surplus or a shortage, of how many units and how many units will actually be rented each month
If the current level of output is 800 million, the marginal propensity to consume is 0.8 and taxes are unrelated to income, what is the new equilibrium level of income if investment increases by 15 million
Q1 kilowatts are produced at facility 1, and Q2 kilowatts are produced at facility 2 (so Q = Q1 + Q2). The costs of producing electricity at each facility are given by C1(Q1) = 8,000 + 6Q12and C2(Q2) = 6,000 + 3Q22, respectively. Determine the pro..
Using the data from Problem 9, draw the demand curve before the subsidy. How does this subsidy affect the demand for one-bedroom apartments? Draw the new demand curve after the subsidy is introduced.
the purchaser of the metal pipe will only accept deliveries of pipe where the diameters fall in the range of 1" +/- 0.0030". Using Chebyshev's Theorem, what is the minimum percentage of acceptable metal pipe in a given shipment. (K must be in "st..
Assume there is one insurance plan. Consumers decide whether to enroll in this insurance plan or remain uninsured. Consumers are heterogeneous in how much they value insurance and how costly they are to insure.
If a country is not specified, you can assume the action is performed in the United States.
Consider the market for DVD movie rentals, which is perfectly competitive. The market supply curve slopes upward, the market demand curve sloped downward, and the equilibrium rental price equals $3.50.
What are the characteristics of the epidemiological transition
A city is concerned about rising rent for low-income households. Several policies being considered. Suppose there are a large number of construction companies, each with the identical cost function for building low-cost houses
In the economy of Scottopia in 2008, exports equaled $400 billion of goods and $300 billion of services, imports equaled $500 billion of goods and $350 billion of services, and the rest of the purchased $250 billion of Scottopia's assets.
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