Suppose that the production function is y a k14l34what is
Suppose that the production function is Y = A K1/4L3/4.
a. What is the marginal product of labor (MPL)?
b. What is the marginal product of capital (MPK)?
c. Graph the approximate shapes of the MPL and MPK curves.
Now Priced at $15 (50% Discount)
Recommended (95%)
Rated (4.7/5)
Suppose that the production function for the economy is: Assume that real GDP is $12,000 billion, the capital stock is $40,000 billion, and the labor supply is 200 billion hours.
Real GDP per hour worked in the United States grew by 2.17% per year from 1949 to 2009, and capital per hour worked grew at the rate of 2.27% per year during the same years.
Suppose that it is known that labor receives 25% of national income. With a Cobb-Douglas production function and an initial level of real GDP of $10,000, what happens to real GDP if both capital and labor double?
Draw a graph of the aggregate production function with capital, K, on the horizontal axis. Why does it have the shape that you have drawn?
Suppose that the production function is Y = A K1/4L3/4.What is the marginal product of labor (MPL)?
Suppose that the production function were . Assume that A = 100,000, and that the current level of the capital stock is 10,000.
In 2010, the money supply, M1, was $1,832 billion.Nominal GDP was $14,660 billion. What was the velocity of money measured using M1?
What will happen to the inflation rate if the rate of growth of the money supply increases to 7%, and, at the same time, the growth rate of velocity increases to 2%?
State the quantity equation.What is the velocity of money?What is the difference between
1932711
Questions Asked
3,689
Active Tutors
1449414
Questions Answered
Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!
Assignment Task: Refine this version: Promoting a change in support of the palliative care model involves a multifaceted approach.
Members are given information on eating disorders to develop a deeper understanding of the illness and the therapies used to treat it.
What is the main theory or theoretical framework? Give the main propositions or key concepts of the theory.
To identify effectiveness of treatment of polycystic ovarian syndrome (PCOS) using lifestyle changes and herbs on fertility.
Problem: Before beginning the focused assessment of the heart, the nurse asks the client's adult children to step out of the room.
Inspection reveals a bright reddened area about the size of a baseball on the right cheek and redness and irritation of the right eye.
The nurse notes an order for elbow restraints for a client in the intensive care unit. The client has an antecubital IV line. What should the nurse do?