How many years of school does it take to become a vet???

Is a group of companies producing a similar product or service

AlladinOne [14]

INDUSTRY is a group of companies producing a similar product or services.
There are different types of industry depending on the kind of product they produce or the kind of service they offer. Examples are manufacturing industries, technological industry, engineering industry, construction industry, etc.

6 0

3 years ago

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Suppose that output (Y ) in an economy is given by the following aggregate production function: Yt = Kt + Nt where Kt is capital

shusha [124]

Answer:

Check the explanation

Explanation:

Yt = Kt + Nt

Taking output per worker, we divide by Nt

Yt/Nt = Kt/Nt + 1

yt = kt + 1

where yt is output per worker and kt is capital per worker.

a) With population being constant, savings rate s and depreciation rate δ.

ΔKt = It - δKt

dividing by Nt, we get

ΔKt/Nt = It/Nt - δKt/Nt ..... [1]

for kt = Kt/Nt, taking derivative

d(kt)/dt = d(Kt/Nt)/dt ... since Nt is a constant, we have

d(kt)/dt = d(Kt/Nt)/dt = (dKt/dt)/Nt = ΔKt/Nt = It/Nt - δKt/Nt = it - δkt

thus, Capital accumulation Δkt = i – δkt

In steady state, Δkt = 0

That is I – δkt = 0

S = I means that I = s.yt

Thus, s.yt – δkt = 0

Then kt* = s/δ(yt) = s(kt+1)/(δ )

kt*= skt/(δ) + s/(δ)

kt* - skt*/(δ) = s/(δ)

kt*(1- s/(δ) = s/(δ)

kt*((δ - s)/(δ) = s/(δ)

kt*(δ-s)) = s

kt* = s/(δ -s)

capital per worker is given by kt*

b) with population growth rate of n,

d(kt)/dt = d(Kt/Nt)/dt =

= $\frac{\frac{dKt}{dt}Nt - \frac{dNt}{dt}Kt}{N^{2}t}$

= $\frac{dKt/dt}{Nt} - \frac{dNt/dt}{Nt}.\frac{Kt}{Nt}$

= ΔKt/Nt - n.kt

because (dNt/dt)/Nt = growth rate of population = n and Kt/Nt = kt (capital per worker)

so, d(kt)/dt = ΔKt/Nt - n.kt

Δkt = ΔKt/Nt - n.kt = It/Nt - δKt/Nt - n.kt ......(from [1])

Δkt = it - δkt - n.kt

at steady state Δkt = it - δkt - n.kt = 0

s.yt - (δ + n)kt = 0........... since it = s.yt

kt* = s.yt/(δ + n) =s(kt+1)/(δ + n)

kt*= skt/(δ + n) + s/(δ + n)

kt* - skt*/(δ + n) = s/(δ + n)

kt*(1- s/(δ + n)) = s/(δ + n)

kt*((δ + n - s)/(δ + n)) = s/(δ + n)

kt*(δ + n -s)) = s

kt* = s/(δ + n -s)

.... is the steady state level of capital per worker with population growth rate of n.

3. a) capital per worker. in steady state Δkt = 0 therefore, growth rate of kt is zero

b) output per worker, yt = kt + 1

g(yt) = g(kt) = 0

since capital per worker is not growing, output per worker also does not grow.

c)capital.

kt* = s/(δ + n -s)

Kt*/Nt = s/(δ + n -s)

Kt* = sNt/(δ + n -s)

taking derivative with respect to t.

d(Kt*)/dt = s/(δ + n -s). dNt/dt

(dNt/dt)/N =n (population growth rate)

so dNt/dt = n.Nt

d(Kt*)/dt = s/(δ + n -s).n.Nt

dividing by Kt*

(d(Kt*)/dt)/Kt* = s/(δ + n -s).n.Nt/Kt* = sn/(δ + n -s). (Nt/Kt)

$\frac{sn}{\delta +n-s}.\frac{Nt}{Kt}$

using K/N = k

$\frac{s}{\delta +n-s}.\frac{n}{kt}$

plugging the value of kt*

$\frac{sn}{\delta +n-s}.\frac{(\delta + n -s)}{s}$

n

thus, Capital K grows at rate n

d) Yt = Kt + Nt

dYt/dt = dKt/dt + dNt/dt = s/(δ + n -s).n.Nt + n.Nt

using d(Kt*)/dt = s/(δ + n -s).n.Nt from previous part and that (dNt/dt)/N =n

dYt/dt = n.Nt(s/(δ + n -s) + 1) = n.Nt(s+ δ + n -s)/(δ + n -s) = n.Nt((δ + n)/(δ + n -s)

dYt/dt = n.Nt((δ + n)/(δ + n -s)

dividing by Yt

g(Yt) = n.(δ + n)/(δ + n -s).Nt/Yt

since Yt/Nt = yt

g(Yt) = n.(δ + n)/(δ + n -s) (1/yt)

at kt* = s/(δ + n -s), yt* = kt* + 1

so yt* = s/(δ + n -s) + 1 = (s + δ + n -s)/(δ + n -s) = (δ + n)/(δ + n -s)

thus, g(Yt) = n.(δ + n)/(δ + n -s) (1/yt) = n.(δ + n)/(δ + n -s) ((δ + n -s)/(δ + n)) = n

therefore, in steady state Yt grows at rate n.

5 0

3 years ago

When you feel cold, you engage in behavior to reduce this unpleasant feeling, for example, by putting on your coat. This desire

insens350 [35]

This desire to reduce internal tension is a crucial aspect of the drive-reduction theory.

<h3 /><h3>What is drive-reduction theory?</h3>

It corresponds to a psychological theory developed by Clark Hull, who believed that individuals are motivated to meet their basic needs, which are psychological and physiological needs.

Therefore, a behavior to reduce the unpleasant sensation of cold would be a physiological motivation proposed by the drive-reduction theory.

Find out more about drive-reduction theory here:

brainly.com/question/12933887

#SPJ1

4 0

2 years ago

Suppose the cross-price elasticity of demand between oranges and clementines is 4. Holding everything else constant, if the pric

raketka [301]

Answer:

Suppose the cross-price elasticity of demand between oranges and clementines is 4. Holding everything else constant, if the price of oranges increases, then the demand for clementines will _decrease_.

Explanation:

The term cross price elasticity tell the responsiveness of demand of one commodity against the price of other commodities. When the value is positive which is 4 in our question, the oranges and clemenities are substitute commodities, both can be replaced with one another. In this case, when price of A increase, the demand for B will decrease.

8 0

3 years ago

hich of the statements is TRUE? Patents give inventors exclusive rights to sell a product for an unlimited period of time. Copyr

Andrew [12]

Answer:

Patents allow inventors to exclusively sell a product for a specific period of time. Copyrights are legal protections that protect a product from being copied by others for a specific period of time

Explanation:

Patents are a right granted to an inventor to exclusively sell a product for a specific period of time usually for 20 years. During this period, others are prevented from making, using, or selling the invention.

Types of patents include :

utility patents
design patents
plant patent

Copyright gives the inventor of a product and anyone they give the permission to the right to reproduce the product.

3 0

3 years ago