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Question: Assume the following Cobb-Douglas production function: . If K = 5,
(a) What is the marginal product of labor?
(b) With your answer in (a), can you prove there is diminishing marginal product of labor?
(c) Estimate real labor income.
Does a cubic equation appear to be suitable specification given these data? You may wish to construct a scatter diagram to help you answer this question. Using a computer for regression analysis, estimate your firm's short run production function usi..
What are financial frictions, and what role do such frictions play in the financial crisis? How does a financial friction enter the IS/MP diagram and the AS/AD.
Suppose that black and white workers are complements in the sense that the marginal product of whites increases when more blacks are hired.
How did it change as a result of European expansion and How is this change representative of what Sayre calls a "decentering" of culture?
Assuming no change in hours of work, if real output per hour of work increases by 10 percent, what will be the new levels of real GDP in the right column of A Does the new data reflect an increase in aggregate supply or does it indicate a decrease..
What is natural about the natural rate of unemployment? Does the existence of a natural rate of un-employment imply that the government is powerless.
If a subsidy of $5 were imposed, what price would buyers pay and what price would suppliers receive? How much would the subsidy cost the government?
What are the two basic classifications for the securities that firms issue to raise capital? In what way(s) are these types of securities similar? In what way(s) are these types of securities different?
Good intentions must be followed by actions leading to measurable outcomes. Sustainability initiatives and their outcomes are tracked through accountability.
suppose a firm uses both labour l and capital k as inputs and has the production function q 2kl. the marginal product
Now consider the problem of a retailer like Circuit City or Best Buy. Such retailers can sell as many copies of Vista they like at the prevailing market price of $200.
The graph below shows the aggregate production function of two nations, A and B. Suppose that in 1958 each nation had $100 of physical capital for each worker and in 2008 each nation had $400 of physical capital per worker. Figure: Nations A and B..
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