- #1
JoshMaths
- 26
- 0
When deriving the natural level of output i am confused as to how the leap is made in the last two lines.
P = P(1+μ)F(1-Y/L,z) =>
1 = (1+μ)F(1-Y/L,z) =>
Yn = h(μ,L,z)
I understand how the mark-up, Total Labour and variable factors are the factors of the natural level but how does this come from the above line?
Thanks,
Josh
P = P(1+μ)F(1-Y/L,z) =>
1 = (1+μ)F(1-Y/L,z) =>
Yn = h(μ,L,z)
I understand how the mark-up, Total Labour and variable factors are the factors of the natural level but how does this come from the above line?
Thanks,
Josh