Suppose that the production function for the economy is: Y = AK¹/⁴ᴸ³/⁴.Assume that real GDP is $8000 billion,capital stock is $32 000 billion,and the labour supply is 120 million (or 0.120 billion) workers.The value of the marginal product of labour is ________ per worker.
A) $30 000
B) $50 000
C) $66 667
D) $90 000
Correct Answer:
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