Question

訪客

請問有人會這題嗎？

meeconomists believe thattheUS.
_whole can be modeled with the following
function, called the Copp-DortJas prodcfigj」

Y = 4K1/3L24,

where Y is the amount of output, Kis the amount of
capital, Lis the amount oflabor and 4isaparameter
that measures the state oftechnology. For this produH
function, the marginal productoflaboris

MPL = (273) 4(K/D1人

Suppose that the price of outputPis2,4 1383.K5
1,000,000,and is 1000. The labor market 1 competitivez/
so labor is paid the value ofits marginal product-
a. Calculate the amount of output produced Y and thie   3
dollar value ofoutput PP
b. Calculate the wage Wand thereal wage W/P. (Note:
The wage is labor compensation measured in do
lars, whereas the real wage is labor compensatiorr
measured in umits of output,)
c. Calculate the labor share (the fraction of the value of
output thatis paid to labor), whichis (WE)/(P29-
d. Calculate what happens to output Y, the wage 區
the real wage W/選and the labor share (WD)/(PY) m
each of the following scenarios:
i.Inflation increasesPfrom 2to3.
貫Technological progress increasesA from 3tQ
和. Capital accumulation increases KKfrom 1
to 8,000,000-                                             7
iv Aplague decreasesTfrom 1000 to

lespite many changes in the品