A production function with two inputs has constant returns to scale and an 80 percent income share for labour. If labour grows by 3 percent, capital grows by 2 percent and the rate of technical progress is 1.2 percent, about how many years would it take for the current level of output to double? Multiple Choice 14 18 23 35 58

Y=10.KO.5 L0.5 K starts at 500, L at 50, Investment 0.10Y, Depreciation 0.05K An alien invasion leads to a reduction in labour to 25 but no capital is damaged. What happens to the marginal product of labour? Increase O stays the same Decrease

Suppose labor productivity increased by 4% last year. If technological progress was 3%, by how much must have the capital-to-labor ratio increased? A) 3%. B) 2%. C) 1%. D) 0%.

1. A firm's production technology is Y = A * K^0.25 * L^0.75, where the technology level A=8. For such a production function the marginal product of capital is MPK = 0.25 * 8 * K^-0.75 * L^0.75 The firm is stuck with K=81 but is flexible on workers. If the price of the firm's output is P=20 and the cost of a unit of capital is R=8.33, how many workers should the firm have? Round your answer to the whole worker.   The answer is 10. I just need to know how to solve it