5 votes
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Marginal and Average Cost in the Romer Model of Endogenous Growth

The cost minimization problem (in general) is given by: $$ \min_{L_i} \int_0^A p(i) L(i) di \text{ s.t. } \left(\int_0^A L(i)^{\phi}\right)^{1/\phi} = y. $$ where $y$ is the output level. The ...
tdm's user avatar
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2 votes
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Why Is Having a Strong Manufacturing Base Important to a Country's Economy?

I don't think there is one answer to this. Anything that helps you win a war needs to be produced domestically, because trade will stop during conflict. Hi-tech industries and vehicles are things ...
user27075's user avatar
1 vote
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What are driving factors behind the recent slew of layoffs in the US tech industry (to the extent we understand them)?

One reason(in simple terms) is that tech companies, even large ones, have a lot of future growth priced into them. As intertest rates rose to combat inflation, these kinds of speculative future ...
Quinn Hart's user avatar

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