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Scale effects
a. Why does the varieties model of technological change from section 6.1 exhibit a scale effect in the sense that the growth rate rises with the aggregate quantity of labor, L? Is it reasonable to identify L empirically with a country's population?
b. What happens in this model if population, L, grows at a constant positive rate?
c. What types of modifications to the model would eliminate the scale effects?
A monopolistically competitive firm produces a level of output at which price equals $80, marginal revenue equals $40, average total cost equals $100, marginal cost equals $40, and average fixed costs equals $10.
ADVANCED ANALYSIS Assume that the consumption schedule for a private open economy is such that consumption C = 50 + 0.8Y. Assume further that planned investment Ig and net exports Xn are independent of the level of real GDP and constant at Ig = 30..
A large profitable corporation is considering two mutually exclusive capital investments: Alt A. Initial Cost: 11,000Uniform Annual Benefit: 3,000 End of depreciable life salvage value: 2,000 Depreciation method: SL End of useful life salvage value
Major overhaul express of $5000 each are anticipated for a large piece of earthmoving equipment. The expenses will occur at EOY four and will continue every 3 years thereafter up to and including year 13. The interest rate is 12% per year.
Suppose that they have decided to accept a custom-style order that has sufficient volume to exceed break-even and have already set up for production. The customer now indicates that they are only willing to pay $31.99 per pair of shoes.
A producer produces good y using a single input x according to the production function y=x^a where 0
Suppose the real GDP of a country increased from 2,000 billion to 2,100 billion in one year. In the same year, population growth rate was 3%. How much was the growth rate of real GDP per capita in that year
You have just borrowed $20,000 to buy a new car. This loan agreement calls for 60 monthly payments of $444.89 each to begin one month from today. If interest is compounded monthly, then what is the effective annual rate on this loan
MexicoTech, a Mexican company is offering ADRs in the US stock market. Presently its stock is traded in Mexico at 440 pesos per share while the peso exchange rate against the US dollar is 11 pesos per dollar. There are 500 shares of stock in each ..
A local restaurateur who had been running a profitable business for many years recently purchased a three-way liquor license. This license gives the owner the legal right to sell beer, wine and spirits in her restaurant.
Figure 11.63 illustrates a cascade of two identical CS stages. Neglecting channel-length modulation and other capacitances, construct the Bode plot of |Vout/Vin|. Note that |Vout/Vin|. = (VX /Vin) (Vout/VX).
You learn that the demand curve facing a monopolist can be written as P = 100 - 5Q, and the monopolist's marginal costs are constant at MC = 60. There are no fixed costs. Write down the equation of the marginal revenue curve for this monopolist.
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