Question: Quality Ladder Model Question 4 Consider a quality ladder model. The production function for firm i producing the final good is: Y1 = AL-a where

Quality Ladder Model

Question 4 Consider a quality ladder model. The production function for firm i producing the final good is: Y1 = AL-a where Y, is final output, L; is labor input, A is an overall measure of productivity, x is the quality- adjusted amount employed of the joh intermediate inputs , N is the number of varieties of the intermediate good and 0

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