 # Assume Y = A*K5*L5 58) In equation form- what is the marginal prod...

## Question

Show transcribed text

## Transcribed Text

Assume Y = A*K5*L5 58) In equation form- what is the marginal product of capital ? 59) In equation form what is the marginal product of labor ? 60) How do we know that each is diminishing. 61) Prove that if you double capital and double labor Y doubles. 62) What is the characteristic described in d called in words ? 63) Write out the Solow Equation for the growth rate of capital per worker as a function of y/k, S, n, and depreciation. 64) 65) 66) 67) 68) Given the production function: Y =AKE Derive the equation for y/k as a function of just A and k. 69) 70) 71) 72) 73) Given the production function: Y = A*KS*L Derive the equation for k* as a function of just A, s, n, and depreciation. 74) 75) 76) 77) 78) Given the production function: Y =A*K*L's Derive the equation for y as a function of just A and k. 79) 80) 81) 82) Given the production function: Y = A*KS*L Assume Technology is 1. Savings rate = 5%, depreciation rate = 10% and population growth rate = 2%. 83) What is the steady state amount of capital per worker? 84) 85) 86) What is the steady state output per worker ? 87) 88) If the depreciation rate is increased during a prolong war to 30% - what is the new steady state of capital ? 89) 90) 91) What is the steady state output per worker ? 92) 93) By what percent does output per worker fall. 94) Assume the war ends and depretiation returns to 10%. Further assume at the end of the war capital per worker is 1. How fast does capital per worker grow in the first year after the war ? 95) 96) 97) What does this equation tell us : y*=g/(1-a) - 98) 99) If techology grows at a rate of 1% per period- how fast does output per worker grow in the long run or steady state if the production function is Y = A*K5*L5

## Solution Preview

These solutions may offer step-by-step problem-solving explanations or good writing examples that include modern styles of formatting and construction of bibliographies out of text citations and references. Students may use these solutions for personal skill-building and practice. Unethical use is strictly forbidden.

By purchasing this solution you'll be able to access the following files:
Solution.pdf.

# 50% discount

Hours
Minutes
Seconds
\$55.00 \$27.50
for this solution

or FREE if you
register a new account!

PayPal, G Pay, ApplePay, Amazon Pay, and all major credit cards accepted.

### Find A Tutor

View available Economics Tutors

Get College Homework Help.

Are you sure you don't want to upload any files?

Fast tutor response requires as much info as possible.