Answer:
What is the steady-state value of the capital-labor ratio, k?
k = 16
Explanation:
Suppose that an economy has the per-worker production function given as follows:
yt = 5kt^0.5
where y = output per worker
k = capital per worker
k = sy - (n+d)×k
0 = s(5k^0.5) - (0.10+0.15)×k
0 = 0.20(5k^0.5) - 0.25k
0.25k = k^0.5
k^0.5 = 1/0.25
k^0.5 = 4
k^1/2 = 4
Taking square of both of the sides:
(k^1/2)² = (4)²
k = 16
Explanation:
There are certain necessary conditions required for a market to operate as a monopoly. These conditions are not generally met in the real world. This is the reason why monopolies are very rare not so common in the real world.
A monopoly is a market structure where there is a single producer selling a product with no close substitutes. In the real world, almost all products have substitutes.
Also for a monopoly to operate there should be a restriction on entry and exit of firms which is difficult to hold in the real world.
Answer:
The correct answer is "substitution effect"
Explanation:
When the price of a good or service rises, and the consumers change into a cheaper product with similar characteristics; immediately the market experiencing a decrease in sales for these changes; That phenomenon is called substitution effect.
For Example:
When the chicken price increases, the consumers prefer to consume pork; Immediately the chicken sales decrease for this decision. That is called a substitution effect.
Answer:
yes is very predominant
Explanation:
because you can find out that you have done mistakes and submit incorrect work,, is very important to check more than twice to make sure you didn't do anything wrong
