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Suppose the production function is Y = AK0.3N0.7.Suppose in 2000,K = 1000,N = 100,and Y = 199.5.In 2010,capital,labor,and output have doubled,so K = 2000,N = 200,and Y = 399.
(a)By what percentage did productivity grow from 2000 to 2010?
(b)If output had risen to 798 instead of 399,and capital and labor doubled,by what percentage would productivity have grown from 2000 to 2010?
Ipsilateral
Located on or affecting the same side of the body, typically in reference to neurological processes or conditions.
Sympathetic Nervous System
A part of the autonomic nervous system responsible for the body's 'fight or flight' response, regulating heart rate, blood pressure, and energy mobilization.
Heart Rate
The number of heartbeats per unit of time, typically expressed as beats per minute (bpm), indicating the heart's efficiency in pumping blood throughout the body.
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