Question: 1)The aggregate production function for a given economy is = ().Suppose = . and = . . If capital and labour grow continuously at 3%
1)The aggregate production function for a given economy is = ().Suppose = . and = . . If capital and labour grow continuously at 3% and 2% respectively, what growth rate of output should be expected?

Given the demand function q = where a > 0: ) Find the price elasticity of demand. For what values of the parameter a is the function (i) inelastic; (ii) elastic; (iii) unit-elastic? Take natural logs on both sides and show that the function is 'log-log linear'. ) Differentiate the function obtained in (c) to find 232$. d(lnq) p dq . = and ex lam the result. dour) q dr p ) Verify that
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
