00:01
Hello, in this video i will be explaining the following.
00:04
So we want to see how the gdp is affected when we increase capital per hour work while holding technology constant and the quantity.
00:16
And then the reverse, so increasing technology and holding quantity constant.
00:21
So let's go ahead and jump right into it.
00:24
I drew out our graphs, but together we're going to talk about.
00:27
So the first graph will be our technology constant.
00:43
And then our second will be our quantity constant.
00:54
So let's go ahead.
00:58
We know that our technology constant, i looked up the original figures.
01:05
If these are not your numbers, then you can always use this as a guide and follow along and use this technology.
01:13
So let's go ahead and label, you know, 700, 700, and then we have 30 ,000, and 35 ,000.
01:39
And then in our quantity one, we're just going to label it together, 10 ,000 and 400.
01:52
And then the same 30 ,000 and 35.
01:57
Okay, let's get to, so we know for technology, our production curve looks a little like this, not my best work.
02:21
And then our first, second, first.
02:31
And a little like that.
02:48
So our first production curve goes like this, and then when you keep technology constant, you can see that...