2. The determinants of productivity Suppose there is a simple hypothetical economy in which the only industry is cloud computing. In the cloud computing field, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of lines of code one programmer authors per hour. In the following table, select the appropriate productivity determinant that represents each example. Examples The additional education workers receive from new computer science course offerings A new data security process that makes the industry's network more secure The rare earth metals that serve as inputs to production of computers The server hardware on which data is stored Human Capital per Worker Natural Resources per Worker Physical Capital per Worker O Technological Knowledge O O

2. The determinants of productivity Suppose there is a simple hypothetical economy in which the only industry is cloud computing. In the cloud computing field, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of lines of code one programmer authors per hour. In the following table, select the appropriate productivity determinant that represents each example. Examples The additional education workers receive from new computer science course offerings A new data security process that makes the industry's network more secure The rare earth metals that serve as inputs to production of computers The server hardware on which data is stored Human Capital per Worker Natural Resources per Worker Physical Capital per Worker O Technological Knowledge O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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You are trying to figure out the multifactor productivity of your carrot farm. You had production of 436 pounds of carrots. You spent $1.50 per pound on fertilizer and used 2 pounds of fertilizer. Planting expenses were $50, and harvesting expenses were 190 hours at $10 per hour. What is your multifactor productivity, rounded to one decimal place?
M5
Suppose you are a department manager in a large consulting firm, and you have an assignment to produce a customized automated billing system for a client in the next week. Your boss asks you to find the least costly way to produce the billing system. To produce the billing system, you'll need to use computers and programmers. The blue isoquant curve on the following graph shows the combinations of computers and programmers that you can use to create the billing system in a week. CAPITAL (Number of computers) 10 9 8 7 3₂ 1 0 O 1 2 3 4 5 7 LABOR (Number of programmers) 6 8 9 10 A TC ?
5. A company that produces auto parts has a production function of Q = 300 L-75 K-5. %3D If L= 250 and K= 25, what is the output of auto parts? If L increases to 350, what is the output of auto parts? What does the change in output show regarding labor as a factor of production?
The table shows the production of inpatient services at Newton-Wellesley Hospital. The hospital pays $100 a day for each medical equipment it rents and $500 a day for each doctor it hires. Labor Output (Inpatient services per day) doctors per Clinic 1 Clinic Clinic Clinic 2 40 60 day 1 3 55 75 90 100 3 4 20 40 65 75 1 65 85 100 110 3 4 Medical equipment A. Calculate ATC curves for each clinic and graph four of them on one chart. B. Draw hospital's long-run average cost curve. 75 85 2 4
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Com 120.000 D 80.000 40.000 Robots 5.000 10.000 15.000 In the graph above, the resources in this economy are
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1. (Textbook problem 2, page 103) An economy has the production function Y=0.2(K+√N). In the current period, K = 100 and N = 100. a. Graph the relationship between output and capital, holding labor constant at its current value. b. What is the marginal product of capital? c. Does the marginal product of capital diminish? d. Graph the relationship between output and labor, holding capital constant at its current value. e. Does the marginal productivity of labor diminish?
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