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