Question: Hi, please explain well with step and step explanation , the formulas, do use diagrams to explain if necessary . Thank you! A country has

Hi, please explain well with step and step explanation , the formulas, do use diagrams to explain if necessary . Thank you!

A country has 10 percent unemployment. The production function is Cobb-Douglas with = . .

(a) By how much will production increase if unemployment is reduced to 5 percent while the capital stock, the labour force, and technology are unchanged? Explain your result.

(b) If unemployment remains permanently on the lower level, is it likely that the capital stock will remain unchanged?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Your downloadable files for Chapter 1 include DEBUG01-01.txt, DEBUG01-02.txt, and DEBUG01-03.txt. Each file starts with some comments (lines that begin with two slashes) that describe the program....

Hi there I could some help with this one I have bolded the question. Below that is some notes and resources to provide context and resource to help with explanation and answer. Again the question is...

Hi there I could some help with this one I have bolded the question. Below that are some notes and resources to provide context and resources. The explanation needs to be addressed from the attached...

Resources and context are below the questions which the answers are in bold. Can you help using the provided resources below the question? Thanks. Independent central banks are run by professionals...

Hi there. The solutions to the questions are attached, I did not understand the solutions so please explain each questions step by step and the explanations of their formulas. Please explain them...

Find attached Ingredients: Water, MCC, Salt, Nicotine, pH regulator, sweeteners and flavours I am wondering why the decision to go with LYFT. I understand migrating to LYFT would be easier from sells...

Card, D., Krueger, A.B. (1994). Minimum wages and employment: a case study of the fast-food industry in New Jersey and Pennsylvania. American Economic Review, 84(4), 772-93. Once you have read your...

Assignment (Short-Answer and Algebraic Questions): (The numbers in square brackets give the breakdown of the points for various parts of each question. please explain your answers.) 1. This questions...

(Short-Answer and Algebraic Questions): (The numbers in square brackets give the breakdown of the points for various parts of each question. please explain your answers.) 1. This questions is based...

HI, HELP ME WITH STEP BY STEP PLEASE, THANK YOU G37 X fx 100% H A B D E F 1 Question 1: Cost Classifications, CVP Income Statement & Analysts (31 marks) 2 3 Note from Kelly, the junior accountant: Hi...

Markets generally lead to efficient use and allocation of resources, but sometimes at the cost of equity. Many have observed a trade-off between efficiency and equity, or growth in income and wealth...

a. Prepare the journal entry to record Stefan Companys issuance of 12,000 shares of $50 par value 6% cumulative preferred stock for $75 cash per share. b. Assuming the facts in part 1, if Stefan...

Question: Cost accounting is an integral part of the q , function in an organization.Multiple Chace 1 teasurer's conongleits inter - al auslise's Cost accounting is an integral part of the q ,...

There are two indications of shifts in Figure 6.10. The first shif favorable, and the second was unfavorable. 9. When is this favorable shift detected 10. When might this favorable shift have begun?...

Accounts payable 6,300 Accounts receivable 37,100 Accumulated depreciation 23,800 Cash 5,600 Common Stock 22,200 Cost of goods sold 81,000 Depreciation expense 2,700 Dividends 48,000 Furniture 26,500...

The following were extracted from the books of Kabila Limited, a sole proprietor, on 31st March 2019. DR CR Sales Purchases Carriage on purchases Land and building (cost) Furniture and fitting(cost)...

Question 3: (CLO 2, PLO 2) Determine the reactions at the ends A and B of the ladder attached placed against a smooth wall. The weight of the ladder is 25 kg and that of the man is 60 kg. on a rough...

QUESTION 16 A large retailer loses millions of customer records in a major data breach. They must develop and implement a new system which includes new hardware, applications, and storage. Which of...

3. Give away need to know information and you will get back information that you find useful.

4. Present multiple themes at once. Then you will get to know a little about how others think, when some of the themes are rejected.

5. Get a third party to mediate, so that both parties have the opportunity to go back to their original negotiating point that they had before the third party put forward his/her proposal.