Consider an economy described by the aggregate production function: Y=F(KL)=K0.5 10.5, the per-worker production function in this economy should be: (The production function may not be entirely displayed on your laptops. The complete production function should be Y-K^0.5L^0.5. It means that we have a CD production function with alpha=0.5.) ⒸY=K0.5 y = k0.570.5 y = 40.5 Per-worker production function is not available.

Consider an economy described by the aggregate production function: Y=F(KL)=K0.5 10.5, the per-worker production function in this economy should be: (The production function may not be entirely displayed on your laptops. The complete production function should be Y-K^0.5L^0.5. It means that we have a CD production function with alpha=0.5.) ⒸY=K0.5 y = k0.570.5 y = 40.5 Per-worker production function is not available.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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