Question
with ++=1,or Yst is the number of units of goods and services offered to that date t, Kt is the number of machine hours (and
with ++=1,or Yst is the number of units of goods and services offered to that date t, Kt is the number of machine hours (and also the capital stock) used by the firms at date t, Ldt is the number of working hours requested by the firms, Td is the number of hours -soil (and also the stock of soil, or earth) requested by firms. It is therefore assumed here, as with capital and labor, that the user cost of the factor of production is measured in hours of use of a unit of land. At measures the level of knowledge of technology in the economy and its assumed constant rate of growth and given by g measures the rate of technical progress. 1-*Show that the production function has constant returns to scale in the three factors of production . *Deduce the possibility of writing the production function in variables per worker, where we denote yt Yst/Ldt production per worker, kt Kt/Ldt the capital Ldt per worker, and Tt Tdt/Ldt land per worker2-* Define and calculate the average productivities of capital, labor and land. *Write each of these average productivities in variables per worker 3- *Define and calculate the marginal productivities of capital, labor and land.*Write each of these marginal productivities in variables per worker
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