Answer to: How do you calculate the value of producer surplus, consumer surplus, and gains from trade, when the market is in equilibrium? By...
In particular, we calculate the expected values of I1 and I2 at steady state (E[I1] and E[I2]), resulting from all viable policies for different combinations of α and β values (see Fig. 5). Fig. 5 Expected values of infrastructure states for I1 and I2 (E[I1] and E[I2])...
Specialized division of labor enables enterprises to leverage their comparative advantage in resource allocation, accumulate production experience, drive technological progress, and enhance productivity (Constantinescu et al.2019; Kim et al.2022), particularly for small-scale enterprises (Becker et al.2022)...
(2012) and Lin and Long (2014) analysed the potential for savings in electricity and fossil fuel, respectively, in China's chemical industry. Lin and Long (2015) performed a stochastic frontier analysis to calculate the energy efficiency of China's chemical industry. Show abstract Waste ...
Ideally, each SOC would map to a unique ISCO, so that we could simply calculate the ISCO share as a weighted average of SOC shares, using the SOCs' US employment counts as the weights. However, given the many-to-many mapping, this approach would put disproportionate weight on those SOCs ...
Answer to: Explain graphically how isoquant-isocost analysis can be used to derive long-run labor demand curve. Distinguish between the...
consume GDP is irrelevant in terms of how we calculate the economic burden to the economy. The fact that the higher taxes needed to pay for those government programs probably represents a burden for wealthy individual retirees does not mean those programs are necessarily a burden to the econ...
At the same time, the continuous improvement of hardware facilities, such as through infrastructure and platform construction, can help attract highly efficient enterprises and high-quality talent, which in turn can enhance labor productivity. Since cities generally have both government and industry ...
Even if we use some weighted expression to calculate productivity (such expression can be derived e.g., from Equation (15)), it can still be argued that there is no linear relationship between inputs and outputs and that such relationship is more complex or complicated. Although our model ...
How Trade With China Boosts ProductivityJaeBin Ahn