Scribd Logo
Upload

Welcome to Scribd!

  • Lewis

    Uploaded by

    Franco Acebey
    66 views3 pages
    The document contains equations for calculating total product in the modern (industrial) sector (TPM) and traditional (agricultural) sector (TPA) based on quantities of labor (QM, QA) and capital (KM1, KM2, KM3, KA) in each sector. It also shows graphs of marginal product of labor curves for each sector, with the traditional sector typically having a higher quantity of surplus labor.

    Original Description:

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document contains equations for calculating total product in the modern (industrial) sector (TPM) and traditional (agricultural) sector (TPA) based on quantities of labor (QM, QA) and capital (KM1, KM2, KM3, KA) in each sector. It also shows graphs of marginal product of labor curves for each sector, with the traditional sector typically having a higher quantity of surplus labor.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    66 views3 pages

    Lewis

    Uploaded by

    Franco Acebey
    The document contains equations for calculating total product in the modern (industrial) sector (TPM) and traditional (agricultural) sector (TPA) based on quantities of labor (QM, QA) and capital (KM1, KM2, KM3, KA) in each sector. It also shows graphs of marginal product of labor curves for each sector, with the traditional sector typically having a higher quantity of surplus labor.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    TPM=fGM, KM3>KM2>

    ?, TPNO o

    c T p, ,
    I

    F.TPu

    LT
    I

    Kvz>lKuz>

    d 0) bo

    LI

    Tf L2

    L3

    (thousands) Quantity of labor (Qr.) (a) Modern (industrial) sector

    TPA=fQA,KA,

    E TP^
    n)

    o
    ho
    d

    Ap -"

    .E MPL.q

    ;
    VV^

    Quantity of labor (Q,a)(millions) (b) Taditional (agricultural) sector

    TPM= f QM,KM,|M) KMs> KM2> KMl

    I a
    Tp.

    t 6

    oAD

    ho
    (g

    MP,^

    3
    o

    \o,1"',
    DtK

    -D3 (KM3)

    OD

    Wo

    0LrL 2L 3 -

    t) = MPLM
    IH - HSurplus labor

    Quantity of labor (Qad (thousands) (a) Modern (industrial) secto

    Quantityof labor (Qq)(millions) (b_) Traditional (agricultural) sector

    You might also like