Economics (7th Edition) (What's New in Economics)
7th Edition
ISBN: 9780134738321
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Chapter 22, Problem 22.2.5PA
Sub part (a):
To determine
The results move along output per worker production functions or results in shift of per worker production functions.
Sub part (b):
To determine
The results move along output per worker production functions or results in shift of per worker production functions.
Sub part (c):
To determine
The results move along output per worker production functions or results in shift of per worker production functions.
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2. Suppose the table represents the production function of both Mexico and Spain.
Use the following information to answer the next question.
K = Capital (trillions) Y = Output (trillions)
Country L = Population
(millions)
Mexico
Spain
105
45
0.18
0.74
1.0
1.7
0
10.
As an alternative to the story of Robinson Crusoe, macroeconomists use the
"aggregate production function," written as Y = AF(L,K,H,N), to link economy-wide
output Y to the number of workers L, the stock of physical capital K, the stock of human
capital H, the stock of natural resources N, and stock of technological knowledge A.
With reference to this aggregate production function, please indicate whether each of
the following statements is true or false.
(a) The aggregate production function exhibits "constant returns to scale" if doubling
the four inputs - workers L, physical capital K, human capital H, and natural
resources N – while holding the stock of technological knowledge A fixed leads to
a doubling of output.
(b) The aggregate production function exhibits "constant returns to scale" if tripling
the four inputs - workers L, physical capital K, human capital H, and natural
resources N – while holding the stock of technological knowledge A fixed leads to
a tripling of…
● To produce a Ipad pro : it requires 7 hours of work for
software, 6 hours of work for hardware, 8 hours of work for
decoration. To produce an Iphone : it requires 6 hours of work
for software, 3 hours of work for hardware, 9 hours of work for
decoration. To produce an Apple Watch it requires 8 hours of
work for software, 5 hours of work for hardware, 4 hours of
work for decoration.
• If their workers can produce 10000 hours of work for software,
7500 hours of work for hardware, 9000 hours of work for
decoration. How many Iphone, Ipad pro and Apple Watch can
Apple produce ?
Chapter 22 Solutions
Economics (7th Edition) (What's New in Economics)
Ch. 22 - Prob. 22.1.1RQCh. 22 - Prob. 22.1.2RQCh. 22 - Prob. 22.1.3PACh. 22 - Prob. 22.1.4PACh. 22 - Prob. 22.1.5PACh. 22 - Prob. 22.1.6PACh. 22 - Prob. 22.1.7PACh. 22 - Prob. 22.1.8PACh. 22 - Prob. 22.2.1RQCh. 22 - Prob. 22.2.2RQ
Ch. 22 - Prob. 22.2.3RQCh. 22 - Prob. 22.2.4RQCh. 22 - Prob. 22.2.5PACh. 22 - Prob. 22.2.6PACh. 22 - Prob. 22.2.7PACh. 22 - Prob. 22.2.8PACh. 22 - Prob. 22.2.10PACh. 22 - Prob. 22.2.11PACh. 22 - Prob. 22.2.12PACh. 22 - Prob. 22.3.1RQCh. 22 - Prob. 22.3.2RQCh. 22 - Prob. 22.3.3PACh. 22 - Prob. 22.3.4PACh. 22 - Prob. 22.3.5PACh. 22 - Prob. 22.3.6PACh. 22 - Prob. 22.4.1RQCh. 22 - Prob. 22.4.2RQCh. 22 - Prob. 22.4.3RQCh. 22 - Prob. 22.4.4PACh. 22 - Prob. 22.4.5PACh. 22 - Prob. 22.4.6PACh. 22 - Prob. 22.4.8PACh. 22 - Prob. 22.4.9PACh. 22 - Prob. 22.4.10PACh. 22 - Prob. 22.4.11PACh. 22 - Prob. 22.4.12PACh. 22 - Prob. 22.5.1RQCh. 22 - Prob. 22.5.2RQCh. 22 - Prob. 22.5.3PACh. 22 - Prob. 22.5.4PACh. 22 - Prob. 22.5.5PACh. 22 - Prob. 22.5.6PACh. 22 - Prob. 22.5.7PACh. 22 - Prob. 22.5.8PACh. 22 - Prob. 22.5.9PACh. 22 - Prob. 22.1RDECh. 22 - Prob. 22.2RDECh. 22 - Prob. 22.3RDE
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