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Find the correct expression for the natural logarithm of total factor productivity by taking the natural log of the production function. O Inz In Y {a ln K + (1 − a) In N} In z = ln Y - {(1 − a) ln K + a ln N} Olnza ln K+(1−a) In N = In Y In z = In Y a ln K+(1-a) In N Consider the Cobb-Douglas aggregate production function, Y = zF(K,N) = zKa N¹-a

Find the correct expression for the natural logarithm of total factor productivity by taking the natural log of the production function. O Inz In Y {a ln K + (1 − a) In N} In z = ln Y - {(1 − a) ln K + a ln N} Olnza ln K+(1−a) In N = In Y In z = In Y a ln K+(1-a) In N Consider the Cobb-Douglas aggregate production function, Y = zF(K,N) = zKa N¹-a

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter7: Production Economics
Section: Chapter Questions
Problem 1.5CE
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Find the correct expression for the natural logarithm of total factor productivity by taking the natural log of the production function. O Inz In Y {a ln K + (1 − a) In N} In z = ln Y - {(1 − a) ln K + a ln N} Olnza ln K+(1−a) In N = In Y In z = In Y a ln K+(1-a) In N
Transcribed Image Text:Find the correct expression for the natural logarithm of total factor productivity by taking the natural log of the production function. O Inz In Y {a ln K + (1 − a) In N} In z = ln Y - {(1 − a) ln K + a ln N} Olnza ln K+(1−a) In N = In Y In z = In Y a ln K+(1-a) In N
Consider the Cobb-Douglas aggregate production function, Y = zF(K,N) = zKa N¹-a
Transcribed Image Text:Consider the Cobb-Douglas aggregate production function, Y = zF(K,N) = zKa N¹-a
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