Provide the complete sketch of Homogeneous production function, supporting your answer mathematically and graphically

For the first several questions, you will deal with Westburg, a nation with a per-worker production function y = f(k) = 5k¹/2 (5 times the square root of k). The marginal product of capital for this production function is 2.5k-¹/2 (2.5 times 1 divided by the square root of k, or 5 divided by (2 times the square root of k)). The economy starts with 400 units of capital per worker (see Table One); people in the economy consume 86% of each dollar of income they earn, and machinery depreciates at a steady rate to be totally used up/worthless in 50 years. There is no technology or population growth. Below is Table One; you'll fill in some, but not all, of the spaces marked by letters: Table One: Row 1 2 3 Question 1 k 400 f 1 y a g m C b h n i C i O Consider the information given about Westburg in Table One. Tell me the value for cell a, carefully following all numeric directions. Sk d j р ΔΚ e k q

Many US based companies rely on labor from low-wage countries. Identify a company that uses labor from low-wage countries and discuss at least one region they do business in.

I'm curious on how to calculate the SR production function, what I know is q = 20K^.3L^.7 and r = 2 and w = 33 and the K is fixed at 300.

a. Based on these demand elasticity estimates, which fruit is most inelastically demanded? Which is most elastically demanded? b. For which of these fruits would a 10% drop in price cause an increase in total revenue from that sale of that fruit? c. If the government could offer “10% off” coupons for only three of these fruits, and it wanted to have the biggest possible effect on quantity demanded, which three fruits should get the coupons? d. Overall, the authors found that for the average fruit, the elasticity of demand was about -0.5. Is the demand for fruit elastic or inelastic?   apple: -0.16 banana: -0.42 grapefruit: -1.02 grapes: -0.91 oranges: -1.14

Confirm that the Cobb-Douglas production function satisfies all the three properties: more is better, concavity, and CRS.

QUESTION 1 The first observation to be made about technical progress is that historically, the rate of growth of outputs over time has exceeded the growth rate that can be attributed to the growth in conventionally defined inputs. Letting Q = A(t) f(K, L) (1) be the production function for society's output as a whole. The term A(t) in the function represents all the influences that go into determining Q other than K (machine-hours) and L (labor-hours) so that changes in A over time represent technical progress. For this reason, A is shown as a function of dA >0 time and presumably dt ; that is, particular levels of labor and capital become more productive over time. Using equation (1) above, show: (e,«.) a) The elasticity of output with respect to capital input b) The elasticity of output with respect to labor input (e,.) c) Show that the growth rate in output can be broken into the sum of two components, that is, growth attributed to changes in inputs (K and L) and other "residual"…

In the graph below, you would prefer to be at point B in this graph rather than point C cost of producing the same level of output. because it leads to Capital 2 1 0 H F D A 56 B E Labor C 15 G Output = 20 Output = 10 I  Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer.  Take care of plagiarism. Answer completely. You will get up vote for sure.

Consider the augmented production function Y equals A K to the power of 1 divided by 3 end exponent open parentheses H N close parentheses to the power of 2 divided by 3 end exponent, where Y is output, A is total factor productivity, K is capital, N is the number of workers, and H is average years of education. Suppose that A=2, K=8, and N=1000. What is the average product of labor (or output per worker) if H is 15.7?

Define the term, "human capital."