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Levart [38]
3 years ago
11

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

Business
1 answer:
Eva8 [605]3 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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Explanation:

The more the number of players in an industry the more it gets congested and especially for the competing sellers. The decision for increasing or reducing price is met by follower firms to do the same thing. It gets less competitive because you know all the players in the industry would be following the same practices and doing the same thing.

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Answer:

B) underestimated the competition.

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3 years ago
Francis works for a local fly-fishing shop. The shop allows employees to purchase two fly rods per year at a discount. This year
RUDIKE [14]

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<h3>How to solve for the discount amount</h3>

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Read more on what a discount is here:

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6 0
2 years ago
1. Some scholars have argued that the parole system should be abolished. Do you agree or
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Yes, I agree.

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3 years ago
​Heidi, Sergei,​ Shou-Ju, and Jesus form a general partnership to operate a sporting equipment store. After their first store is
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