How do I determine the per-worker production function, y = f (k) of the production function...
How do I determine the per-worker production function, y = f (k) of the production function Y = K1/3 L2/3?
I know I must divide both sides by L, labor. This gives me y = (K1/3L2/3)/L. Where do I go from here?
Homework Answers
Y=K^1/3*L^2/3
Y/L=k^1/3*L^2/3)/L
Y/L=K^1/3*L^-1/3
Y/L=(K/L)^1/3
So output per worker(y),
y=k^1/3,where y is output per worker and k is capital per worker.
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How do I determine the per-worker production function, y = f (k)
of the production function...
With a per-worker production function y = k1/2, the steady-state capital stock per worker (k*) as...
With a per-worker production function y = k1/2, the steady-state
capital stock per worker (k*) as a function of the saving rate (s)
is given by:
A) k* = (s/
)2.
B) k* = (/s)2.
C) k* = s/.
D) k* =
/s.
Answer is A, I need to understand the process. Thanks
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With a per-worker production function y = k1/2, the steady-state
capital stock per worker (k*) as a function of the saving rate (s)
is given by:
A) k* = (s/
)2.
B) k* = (/s)2.
C) k* = s/.
D) k* =
/s.
Answer is A, I need to understand the process. Thanks
We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this image
When St=0.4Yt，k? y? c?
Suppose that an economy has the per-worker production function given as: y = 3405 where y is output per worker and k is capital per worker. In addition, national savings is given as: S = 0.37 where S is national savings and Y is total output Use the production and savings functions on your left and the depreciation and population growth rates below to answer the following questions. (Round all numerical responses to one decimal place)...
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