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The Algebra for Theory of Natural Output

by JoshMaths
Tags: algebra, natural, output, theory
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JoshMaths
#1
May10-13, 05:08 PM
P: 31
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
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Evo
#2
May10-13, 05:12 PM
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This is homework, I assume.
JoshMaths
#3
May10-13, 05:14 PM
P: 31
Nope, incorrect assumption :)

The notes i am provided from the lecture have made this leap themselves.

Would you like a picture of the notes?

Evo
#4
May10-13, 06:59 PM
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The Algebra for Theory of Natural Output

Quote Quote by JoshMaths View Post
Nope, incorrect assumption :)

The notes i am provided from the lecture have made this leap themselves.

Would you like a picture of the notes?
No, just needed to clarify.
JoshMaths
#5
May13-13, 04:29 PM
P: 31
Nearly all my Economics questions have gone unanswered, if i am missing something huge in terms of my poor question asking please let me know.
Evo
#6
May13-13, 05:12 PM
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I don't believe that we have many people here that knowledgeable in economics.
Integral
#7
May14-13, 11:50 AM
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I know nothing of economics, (If I did I would be retired already!)

Just looking at it as a math problem, the second line is just the first with P canceled.

The last line is simply a statement that Y is a function of mu , L and z.
JoshMaths
#8
May15-13, 07:43 AM
P: 31
Thanks for your help, i'll try and post more relevant questions next time.


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