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Levart [38]
4 years ago
11

Suppose that an economy has the per-worker production function given as:

Business
1 answer:
Eva8 [605]4 years ago
8 0

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

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3 years ago
Robinson spends all his income on mangos and bananas. Mangos cost $3 per pound. Robinson's marginal utility is 30 for the last p
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Answer:

$1 per pound

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3 years ago
vA $1,000 three-year par-value bond yields an effective annual interest rate of 6%. Coupons are paid on an annual basis at a rat
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A brand that has been given exclusive legal protection, such as the McDonald's golden arches is a: Group of answer choices priva
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