1. Suppose the hourly wage is $10 and the price of each units of capital is $25. The price of output

Posted:: 3+ months ago by abdi kafi
Topics:: price, capital, production, stock, current, fixed

Details:

... is constant at $50 per unit. The production function is: q = L0.5 K0.5
Suppose that the current capital stock is fixed at 1600 units

Added 3+ months ago:

1. Suppose the hourly wage is $10 and the price of each units of capital is $25. The price of output is constant at $50 per unit. The production function is: q = L0.5 K0.5
Suppose that the current capital stock is fixed at 1600 units.

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