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In a Solow-type economy, total national saving, St, is St = sYt - hKt. The extra term, -hKt, reflects the idea that when wealth (as measured by the capital stock) is higher, saving is lower. (Wealthier people have less need to save for the future.) Find the steady state values of per worker capital, output, and consumption. What is the effect on the steady state of an increase in h?.
1. if the 4 firm concentration ratio of an industry is 75 what does it mean?2. explain in game theory how payoff
What is the difference in profit maximization between the perfect competitor and all other types of firms? A(n) ____ may offer products that are either differentiated or nondifferentiated.
In the following situation, the market is initially in equilibrium. After each event described below, does a surplus or a shortage exist at the original equilibrium price? What will happen to equilibrium price as a result? Draw your answer in GRAPH F..
what is the probability that sample variance would be less than 100? what is the probability that sample variance would be more than 500.
In solving an arithmetic gradient problem with the gradient decreasing, which is true? Use the highest amount as the base. Calculate uniform series with that base amount, and then subtract the calculated gradient (wedge).
Draw the game tree associated with this situation. Using the backward induction method discussed in the online class notes, what will be the outcome of the game?
African Americans, then examine through the use of historical evidence whether these factors can elucidate civil rights progress during the "Two Reconstructions".
If the price of one good is four time the price of the other also the price of both double, Illustrate what effect does it have on the set of affordable bundles
The monthly market demand curve for calculators among economics students is given by P=100-2Q, where P is the price per calculator in dollars and Q is the number of calculators purchased per month. If the Price is $30, how much revenue will calculato..
Use the graph to illustrate the economic concepts of scarcity, unemployment, inefficiency, and opportunity costs. When possible, use data points on the graph to accompany your verbal explanation.
A company has an investment project that will cost $2 million today and yield a payoff of $3 million in 5 years. If the interest rate is 9%, should the firm undertake the project?
Cost Minimization for Cobb-Douglas. Suppose the Acme Gumball Company has the production function of q=LK. Given that the MPL=K, MPK=L and MRT S=MPL/MPK. Part a-b, we are analyzing the impact of output on input choices. Suppose wage rate is w= $5 and ..
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