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GuDViN [60]
3 years ago
14

A certain production process requires only two types of inputs — capital and labor. In 2006, 100 units of labor and 50 units of

capital were employed, and 100 units of output were produced. In 2013, 112 units of labor and 56 units of capital were employed. If the production process displays constant returns to scale, then how many units of output were produced in 2013?
Mathematics
1 answer:
Nadya [2.5K]3 years ago
5 0

Answer:

112 units of output

Step-by-step explanation:

Constant returns to scale means that an increase in inputs (capital and labor) cause the same proportional increase in output. From 2006 to 2013 labor grows from 100 to 112, in percentage that is 100*(112 -100)/100 = 12%. Capital grows from 50 to 56, in percentage that is 100*(56 -50)/50 = 12%. In consequence, output had to grow from 100 to 112, so that, an increment of 12% was made.

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You are solving for x. Note the equal sign. What you do to one side, you do to the other. Isolate the x.

First, add 2z to both sides

-2z (+2z) - xy = z + 7 (+2z)

Simplify. Combine like terms

-xy = z + 2z + 7

-xy = 3z + 7

Completely isolate the x. Divide -y from both sides

(-xy)/-y = (3z + 7)/-y

x = (3z + 7)/-y

Simplify

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3 years ago
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Answer:

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Step-by-step explanation:

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The value of house is defined by the function

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P=200000(1.05)^t

The difference between 2017 and 2014 is 3 years.

P=200000(1.05)^3=231525

Therefore the value of Lucys house  at the start of 2017 is 231525.

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Step-by-step explanation:

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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