Lecture 4 19

Lecture 4 19 - ≥ 1 computers: 8% in 1984, 62% in 2003...

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Technological Progress Technology: Enables higher level production without needing extra labor or capital (or extra cost) The real price of computer power has fallen an average of 30% per year over the past three decades. Percentage of U.S. households with
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Unformatted text preview: ≥ 1 computers: 8% in 1984, 62% in 2003 1981: 213 computers connected to the Internet 2000: 60 million computers connected to the Internet 2001: iPod capacity = 5gb, 1000 songs. 2005: iPod capacity = 60gb, 15,000 songs....
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This note was uploaded on 04/03/2011 for the course ECON 2021 taught by Professor Mok during the Spring '11 term at HKU.

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