What can you say about the marginal productivity of capital

Assignment Help Econometrics
Reference no: EM131323758

From the ninth century B.C. until the proliferation of gunpowder in the fifteenth century A.D., the ultimate weapon of mass destruction was the catapult (John N. Wilford, "How Catapults Married Science, Politics and War," New York Times, February 24, 2004, D3). As early as the fourth century B.C., rulers set up research and development laboratories to support military technology. Research on improving the catapult was by trial and error until about 200 B.C., when the engineer Philo of Byzantium reports that by using mathematics, it was determined that each part of the catapult was proportional to the size of the object it was designed to propel. For example, the weight and length of the projectile was proportional to the size of the torsion springs (bundles of sinews or ropes that were tightly twisted to store enormous power). Mathematicians devised precise tables of specifications for reference by builders and by soldiers on the firing line. The Romans had catapults capable of delivering 60-pound boulders at least 500 feet. (Legend has it that Archimedes' catapults used stones that were three times heavier.) If the output of the production process is measured as the weight of a projectile delivered, how does the amount of capital needed vary with output? If the amount of labor to operate the catapult did not vary substantially with the projectile's size, what can you say about the marginal productivity of capital and returns to scale?

Reference no: EM131323758

Questions Cloud

Which typeof company offer protection for personal liability : Which of the following types of company offers protection for personal liability? Todd wants to start a business, but he wants to make sure that he has absolute control. Which business form would you recommend?
Inorganic arsenic was discarded : If it is considered that drinking 800 mL of water per day containing an arsenic concentration equal to the US EPA maximum contaminant level (MCL), delivers the dose to an adult that corresponds to a 1 in 10,000 excess risk of lung cancer.
Discuss the impact of technologies in relation to materials : Discuss the impact of these technologies in relation to materials you learned in this course such as professional ethics and personal ethics, engineers' responsibility, society and technology, trust and reliability, risk and reliability, and the e..
What is the density of the rice : An empty 100-mL measuring cylinder weighs 132.456 g.  When filled with rice to the 100-mL mark it weighs 220.345 g.  After water has been added to fill the spaces between the grains, the weight is 250.123 g.  What is the density of the rice in g m..
What can you say about the marginal productivity of capital : If the amount of labor to operate the catapult did not vary substantially with the projectile's size, what can you say about the marginal productivity of capital and returns to scale?
Evaluate published nursing research for credibility : The student will read research literature to determine the research purpose, question, design, population, sample, limitations, data collection and analysis.Apply research principles to the interpretation of the content of published research studie..
Potassium sulfate is commonly used in fertilizers : Potassium sulfate is commonly used in fertilizers. An agricultural researcher in alaboratory measures and weighs a 150.0-g sample of potassium sulfate for herexperiment. The solid sample is dissolved in enough water to make an 800.0 mLsolution.
Prepare a corporate tax return for 2015 : ACC 404 Corporate Tax Return Project - prepare a corporate tax return for 2015. You can download the tax forms from the IRS website (www.irs.gov). In addition to the basic Form 1120 (all 5 pages), you will need to complete Schedules D and G, and Fo..
Was this technological progress neutral : Was this technological progress neutral? In a figure, show how these technological changes affected isoquants.

Reviews

Write a Review

Econometrics Questions & Answers

  Calculate the value of any steady state level

In a country, output is produced with labor and physical capital. The production function in per-worker terms is y=k^1/2. The depreciation rate is 2%. The investment rate (&) is determined as follows: &=0.2 if y

  Determine the poverty rate for country

There are 20 million households in Country X and 4 million of them are below the poverty line. What is the poverty rate for Country X?

  What is the effective interest rate an investor receives

ABC Corporation's recently issued bonds paying interest semiannually and maturing in 10 years. The face value of each bond is $1000, and 6.8% is the nominal interest rate. (a) What is the effective interest rate an investor receives.

  What is the income elasticity of steak for chad

Chad's income went from $1000 per week to $1500 per week.As a result he increased his consumption of steak from 1 pound aweek to 3 pounds a week. Based on his consumption patterns,what is the income elasticity of steak for Chad.

  Which country has comparative advantage in production of cap

b. Which country has a comparative advantage in production of caps In wheat c. If the US and Russia were the only two countries engaging in trade, what adjustments would you predict, assuming exchange rates are freely determined by the laws of sup..

  What problems might such a compensation scheme create

Why might deterrence be enhanced by awarding a share of criminal fines to enforcers? What problems might such a compensation scheme create?

  The tricities bus company is a regional bus line providing

the tricities bus company is a regional bus line providing transit service between coquitlam port moody and port

  How many people does the department employ

What factors do you think you control that will help you have a higher quality of health?

  Describe do young children use cell phones

The two sample sizes were 12 for children under 12 and 15 for children 13 to 17 years of age. Further, the standard deviation for children under 12 was 51.7, while the standard deviation for children 13 to 17 of age was 67.6.

  Find nominal interest rate and equilibrium quantity of loans

show what happens to the nominal interest rate and the equilibrium quantity of loans when both borrowers and lenders increase their estimates of the expected inflation rate from 5 percent to 10 percent.

  What would be the change in demand for college

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

  What does this imply about the value of the resistor

On schematics, you will frequently see a 1000 resistor listed as 1.0 k Ω. What does this imply about the value of the resistor?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd