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Consider an economy in which production is characterized by the neoclassical function Y K.5N.5 . Suppose, again, that it has a saving rate of .1, a population growth rate of .02, and an average depreciation rate of .03.
a. Write this production function in per capita form, and find the steady-state values of k and y.
b. At the steady-state value of k , is there more or less capital than at the golden-rule level?
c. Determine what saving rate would yield the golden-rule level of capital in this model.
d. In the context of this neoclassical growth model, can a country have too much saving?
Include how this Product/Service works differently from the normal supply/demand relationship. ( product choice: Michael Jordan shoes)
Suppose that a monopolistically competitive firm must build a production facility in order to produce a product. The fixed cost of this facility is FC = $24. Also, the firm has constant marginal cost, MC = $3
This question considers a closed economy Keynesian model that is augmented to include transfers payments to consumers (Tr = Transfers) that increase consumers' disposable incomes and lower government savings. a) Suppose you had the following c..
A project has a life of 10 years, and no salvage value. The firm uses an interst rate of 12% to evaluate engineering projects. The project has an uncertain first cost and net revenue. First Cost P Net Revenue P -- $300,000 0.2 $70,000 0.3 400,000 ..
Mike buys a corporate bond with a face value of $1000 for $900. The bond matures in 10 years and pays a coupon interest rate of 6%. Interest is paid every quarter. A). Determine the effective rate of return if Mike holds the bond maturity.
Consider a consumer that chooses a bundle of leisure time (r) and a composite good (c) to maximize the utility function U(c, r) = c + 16(r1/2), where c is the number of units of the composite good consumed, and r is the number of hours of leisure ..
If the price or cost of college and university education increased by 10 percent and, at the same time, incomes also increased by 10 percent, what would be the change in demand for college and university education
Using your EAEF data set, fit an educational attainment function, regressing S on ASVABC, SM, and SF. Calculate the F statistic using R2 and perform a test of the explanatory power of the equation as a whole.
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Great Dane, a Danish firm, has systematic risk of 0.9 when measured against the MSCI World Market Index. Its systematic risk is 1.25 when measured against the Danish stock index. The expected returns on the MSCI world index.
A firm is the only seller of the same good in two markets, market 1 and market 2. The inverse demand in market 1 is p1 = 200 ? q1, and the inverse demand in market 2 is p2 = 100 ? 2q2. The marginal cost of production is constant and equal to 40. t..
what is the opportunity cost of a bottle of root beer
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