Business, 08.11.2019 05:31 Looneytunness1806

# Suppose the production function in medieval europe is y 5 k 0.5l0.5, where k is the amount of land and l is the amount of labor. the economy begins with 100 units of land and 100 units of labor. use a calculator and equations in the chapter to find a numerical answer to each of the following questions. a. how much output does the economy produce? b. what are the wage and the rental price of land? c. what share of output does labor receive?

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Business, 21.06.2019 19:20

An economy has a cobb–douglas production function: y = kα(le)1-α. (for a review of the cobb–douglas production function, see chapter 3.) the economy has a capital share of a quarter, a saving rate of 48 percent, a depreciation rate of 2 percent, a rate of population growth of 1 percent, and a rate of labor-augmenting technological change of 3 percent. it is in steady state. a. at what rates do total output, output per worker, and output per effective worker grow? total output grows at %. output per worker grows at %.

Answers: 3

Business, 21.06.2019 19:30

What is the most important factor that affects the value of a company? a) cash flow b) earnings c) supply and demand d) number of employees

Answers: 1

Business, 21.06.2019 20:30

In general, as long as the number of firms that possess a particular valuable resource or capability is less than the number of firms needed to generate perfect competition dynamics in an industry, that resource or capability can be considered and a potential source of competitive advantage.answers: valuablerareinimitableun-substitutable

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Business, 22.06.2019 04:30

Jennifer purchased a house in a brand new development in the outskirts of town. when her house was built, the nearest fire department was nearly 20 miles away. as her neighborhood developed, the density of the community called for a new fire department 1.5 miles away. what effect will the new fire station have on her homeowners insurance premium? a. a new fire department will be more demanding on local taxes. her annual premium will go up. b. the location of a fire department has no bearing on the value of her house. her annual premium will stay the same. c. the new fire department will reduce the risk of financial loss in her home. her annual premium should decrease. d. with a fire department so close (less than 5 miles), financial risk on jennifer’s home practically disappears. she will not need to pay insurance anymore.

Answers: 1

Suppose the production function in medieval europe is y 5 k 0.5l0.5, where k is the amount of land a...

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