Suppose that the production function for the economy is Y = AK⁰.⁵ᴸ⁰.⁵.If the capital stock ?= 40 000,the quantity of labour = 10 000,and the efficiency index = 3,the equilibrium real wage is
A) $3.
B) $4.50.
C) $9.
D) $16.67.
Correct Answer:
Verified
Q22: Suppose that the production function for the
Q23: A firm that wishes to maximize profits
Q24: Figure 7.1 Q25: Suppose that the production function is Y Q26: Suppose that the production function for the Q28: A firm that wishes to maximize profits Q29: Suppose that the production function for the Q30: Figure 7.1 Q31: Suppose that the production function for an Q32: Figure 7.1 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
![]()
![]()
![]()