Country a and country b both have the production function:

y = f(k, l) = k^(1/3)l^(2/3).

a) does this production function have constant returns to scale? explain.

b) what is the per-worker production function, y = f(k)

c) assume that neither country experiences population growth or technological progress and that 20-percent of capital depreciates each year. assume further that country a saves 10% of output each year and country b saves 30% of output each year. using your answer from part (b) and the steady-state condition that investment equals depreciation, find the steady-state level of capital per worker for each country. then find the stead-state levels of income per worker and consumption per worker.

d) suppose that both countries start off with a capital stock per worker of 1. what are the levels of income per worker and consumption per worker?

Which type of data is generally stored in different file formats, such as text files, spreadsheets, and so on?

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

Suppose a holiday inn hotel has annual fixed costs applicable to its rooms of $1.2 million for its 300-room hotel, average daily room rents of $50, and average variable costs of $10 for each room rented. it operates 365 days per year. the amount of operating income on rooms, assuming an occupancy* rate of 80% for the year, that will be generated for the entire year is *occupancy = % of rooms rented