In a simple scenario of with only two factors of production, suppose that capital’s share of income is 0.4 and labour’s share is 0.6 and that annual growth rate of capital and labour are 6 and 2 percent, respectively. Assume there is no technical change.

a) At what rate does output grow?

b) How long will it take for output to double?

c) Now suppose technology grows at a rate of 2 percent. Recalculate your answers to (a) and (b).

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On april 1, santa fe, inc. paid griffith publishing company $2,448 for 36-month subscriptions to several different magazines. santa fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what amount should appear in the prepaid subscription account for santa fe, inc. after adjustments on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?

Afirm is producing at minimum average total cost with its current plant. draw the firm's long-run average cost curve. label it. draw a point on the lrac curve at which the firm cannot lower its average total cost. draw the firm's short-run average total cost curve that is consistent with the point you have drawn. label it.g