The assumption of CRS production function and profit maximising behaviour of the firm implies the equality between price and unit cost in each of the three sector and the minimisation of cost of one efficiency unit
Investment spending calculated by labor in efficiency units
in 1985 is 1.14; it then rises to 1.63 in 1986.
The unit of labor supplied by agent i in period t is converted into efficiency units
of labor [Mathematical Expression Omitted] by the following relationship
This said, we now apply this equal valuation over time to a two-country world, in which each has set its market-rate of return equal to the steady-state growth rate of labor in efficiency units
. Briefly, one maximizes f(k)-nk with respect to k, and this yields f'(k) = n.
Normally centralized unions demand higher wages if the demand for labour measured in efficiency units
is inelastic, local unions if the demand is elastic.
Air Masters of Tampa Bay are experienced with servicing residential units from the lowest seer rating (low efficiency units
) to the highest seer ratings (very high efficiency units
) with special filtering systems to zoning systems.
This finding is modified for the case of Hicks-neutral progress, to refer to efficiency units
rather than natural units of labor.
The operation is now running smoothly with higher efficiency units
in place providing peace of mind to the whole operation.
Expand Worker Housing Production: SRO's may have acquired a bad name in some circles, but simple, old-fashioned Worker Housing (efficiency units
for single working men and women) should be encouraged.
The apartment mix will consist of one bedroom/one bath, two bedroom/two bath, three bedroom/three bath, and four bedroom/four bath as well as deluxe efficiency units
. The Forum at Statesboro will pre-wire all living rooms and bedrooms for cable television and high speed internet service.