Suppose that the production function for the economy is Y = AK0.5L0.5. If the capital stock = 40,000, the quantity of labor = 10,000, and the efficiency index = 3, the equilibrium real wage is
A) $3.
B) $4.50.
C) $9.
D) $16.67.
A
Economics
You might also like to view...
How does the principal-agent problem extend to managers and employees?
What will be an ideal response?
Economics
A debit card
A. is considered part of M1. B. is just like credit card in that you pay for it with a check at a later time. C. purchase takes money out of your checking account. D. is considered part of M2.
Economics